Keefe, Bruyette & Woods Increases First American Financial (NYSE:FAF) Price Target to $86.00

First American Financial (NYSE:FAF) had its price target lifted by analysts at Keefe, Bruyette & Woods from $84.00 to $86.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 13.75% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a research note on Monday. Stephens restated an “overweight” rating and issued a $84.00 price target on shares of First American Financial in a report on Friday, June 12th. Wall Street Zen lowered shares of First American Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Benchmark assumed coverage on First American Financial in a research note on Tuesday. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Zacks Research cut First American Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.60.

First American Financial Stock Performance

First American Financial stock traded up $6.64 during trading hours on Friday, hitting $75.61. 580,857 shares of the stock were exchanged, compared to its average volume of 1,012,759. The stock has a market capitalization of $7.70 billion, a P/E ratio of 10.46, a P/E/G ratio of 0.69 and a beta of 1.23. First American Financial has a 12 month low of $56.20 and a 12 month high of $75.96. The business’s 50-day moving average is $68.22 and its two-hundred day moving average is $65.91.

First American Financial (NYSE:FAF) last issued its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.28. First American Financial had a net margin of 9.33% and a return on equity of 13.43%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that First American Financial will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In other First American Financial news, SVP Lisa W. Cornehl sold 5,823 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $68.63, for a total transaction of $399,632.49. Following the sale, the senior vice president directly owned 29,635 shares in the company, valued at $2,033,850.05. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On First American Financial

A number of hedge funds have recently made changes to their positions in the stock. Bar Harbor Wealth Management increased its holdings in shares of First American Financial by 52.4% during the fourth quarter. Bar Harbor Wealth Management now owns 135,649 shares of the insurance provider’s stock worth $8,334,000 after buying an additional 46,639 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in First American Financial in the fourth quarter valued at about $6,713,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of First American Financial during the fourth quarter valued at about $1,608,000. Tudor Investment Corp ET AL bought a new stake in shares of First American Financial during the third quarter worth about $5,046,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of First American Financial during the fourth quarter worth about $63,693,000. 89.05% of the stock is currently owned by institutional investors and hedge funds.

More First American Financial News

Here are the key news stories impacting First American Financial this week:

• Positive Sentiment: First American Financial beat Q2 earnings and revenue estimates, reporting $2.08 per share versus the $1.80 consensus and $2.11 billion in revenue versus $2.03 billion expected, which supports the recent share-price strength. Article Title
• Positive Sentiment: Management and coverage reports pointed to record commercial revenue, stronger title insurance activity, higher investment income, and better average revenue per order, suggesting operating fundamentals are improving. Article Title
• Positive Sentiment: Benchmark Co. initiated coverage with a buy rating and an $85 price target, implying additional upside from current levels. Article Title
• Neutral Sentiment: Several follow-up items were published, including earnings-call transcripts and a Q1/Q3 estimate note from Zacks Research, but these appear to be informational rather than new catalysts. Article Title

First American Financial Company Profile

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.