Analysts from the equity research department of StockNews.com initiated coverage of First American Financial on Thursday, as stated in a report that was made public that day (NYSE: FAF).
The investment advisory firm has suggested to clients that they “hold” onto the insurance provider’s stock in their portfolios.
First American Financial (NYSE: FAF) announced the results of its most recent financial quarter on Thursday, February 9, when it published its earnings report for the period.
The insurance company’s reported quarterly earnings per share came in at $1.35, which was $0.10 less than the consensus estimate of $1.45 per share for the company’s earnings for the quarter. First, American Financial Corporation had a return on equity of 13.40% and a net margin of 3.46%.
The analysts’ projections for the company’s quarterly revenue ranged from $1.82 billion to $1.69 billion, with the average estimate falling in the middle.
The company reported a profit of $2.28 per share during the same period in the prior year’s financial statements.
During the company’s third fiscal quarter, First American Financial experienced a decline of 29.0% year over year in the amount of revenue it generated.
The projections of market analysts suggest that First American Financial will generate earnings of $5.05 per share throughout the current fiscal year.
On Thursday, the share price of FAF stock began trading at $55.02 per unit.
The company’s simple moving average for the past 50 days is currently sitting at $58.45, and the simple moving average for the past 200 days is currently at $53.48.
The lowest point over the past year for First American Financial was $43.54, while the highest point over the past year for the company was $69.75.
The stock is trading for 22.64 times its earnings per share, and its beta value is 1.26.
The company’s stock is currently valued at $5.67 billion.
Regarding FAF, there have also been comments from various other brokerages.
Barclays increased its price objective on First American Financial from $60.00 to $67.00.00 in a research report published on Friday, January 6.
The rating of the First American Financial Company has been changed from “outperform” to “market perform” by Keefe, Bruyette, and Woods.
The price point of $61.00 has been set as the share’s target price. On December 14, a Wednesday, a report was made available to the general public. Stephens upgraded shares of First American Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $65.00 to $72.00 in a research report published on February 10.
The Street raised their recommendation on shares of First American Financial from a “c+” rating, assigned previously, to a “b-” rating, assigned in a research report published on Thursday, February 16. Five market analysts have issued a buy recommendation for the stock, while three have issued a hold rating.
The data that Bloomberg provided indicates that the general recommendation for First American Financial is to make an investment classified as a “Moderate Buy” and set a price target of $70.00 for the company’s stock.
Recent changes have been made to reflect the most recent holdings of the stock by hedge funds and other types of institutional investors.
To demonstrate Principal Financial Group INC’s growing confidence in First American Financial, during the second quarter, the company increased the percentage of its stock by 2.5 percent.
Principal Financial Group INC now has 422,436 shares of the insurance provider’s stock, worth a combined total of $22,355,000, after purchasing an additional 10,495 shares during the period in question.
This brings the company’s total number of shares to 422,436.
During the third quarter, Lazard Asset Management LLC witnessed a rise of 7,633.9% in the amount of First American Financial stock it held in its portfolio.
Lazard Asset Management LLC now holds 30,781 shares of the company’s stock, valued at $1,419,000, following the acquisition of an additional 30,383 shares during the most recent quarter. Northern Oak Wealth Management INC made a new investment in the amount of 239,000 dollars in First American Financial during the second quarter of the fiscal year.
During the third quarter, Renaissance Technologies LLC achieved a 39.1 percent increase in the proportion of First American Financial owned by the company.
After purchasing an additional 59,525 shares of the insurance provider’s stock during the preceding quarter, Renaissance Technologies LLC now owns 211,625 shares of the company’s stock, which is $9,756,000.
These shares were acquired during the most recent quarter.
Last but certainly not least, Synovus Financial Corporation increased its holdings in First American Financial by 106.4% during the second quarter of this year.
To this day, Synovus Financial Corp. has increased its holdings in the insurance provider’s stock by purchasing an additional 3,979 shares, bringing the total number of shares owned by the company to 7,720, which have a value of $401,000.
Institutional investors own 84.45% of the shares, making up most of the shareholders.
The residential real estate and commercial mortgage industries are both served by First American Financial Corp., which provides title insurance and settlement services. First American Financial Corp.
In addition to this, it provides various options for managing risks in addition to additional financial services.
Title Insurance and Services, Specialty Insurance, and Corporate are the three operating divisions that make up the company.