First American Financial (NYSE:FAF) Stock Price Target Lowered at Barclays

Key Points

• Barclays lowered First American Financial’s price target from $83 to $79 while maintaining an “overweight” rating, implying approximately 26.4% upside from the reported $62.48 share price.
• Analyst sentiment remains favorable, with seven Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $83.80.
• First American Financial beat quarterly expectations, reporting EPS of $2.08 versus the $1.80 consensus and revenue of $2.11 billion, up 15% year over year.

First American Financial (NYSE:FAF - Get Free Report) had its target price decreased by investment analysts at Barclays from $83.00 to $79.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Barclays's price objective indicates a potential upside of 26.44% from the stock's current price.

A number of other equities analysts have also recently issued reports on FAF. Zacks Research cut First American Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Weiss Ratings restated a "buy (b)" rating on shares of First American Financial in a research report on Monday, July 20th. Benchmark started coverage on shares of First American Financial in a research report on Tuesday, July 21st. They set a "buy" rating and a $85.00 target price on the stock. Stephens reaffirmed an "overweight" rating and issued a $84.00 price target on shares of First American Financial in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First American Financial from $84.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.80.

First American Financial Stock Down 0.0%

First American Financial stock traded down $0.01 during mid-day trading on Monday, reaching $62.48. The company had a trading volume of 99,289 shares, compared to its average volume of 960,461. First American Financial has a 52 week low of $56.20 and a 52 week high of $79.87. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.58 and a beta of 1.24. The company has a 50 day moving average of $71.91 and a 200-day moving average of $68.43.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.28. First American Financial had a return on equity of 13.31% and a net margin of 9.33%.The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $1.53 earnings per share. The company's quarterly revenue was up 15.0% compared to the same quarter last year. On average, analysts predict that First American Financial will post 7.12 earnings per share for the current fiscal year.

Insider Buying and Selling at First American Financial

In related news, CAO Steven Adams sold 3,253 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total transaction of $243,942.47. Following the transaction, the chief accounting officer directly owned 10,234 shares in the company, valued at approximately $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On First American Financial

A number of large investors have recently added to or reduced their stakes in the business. Duncker Streett & Co. Inc. raised its holdings in First American Financial by 616.4% in the 1st quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 376 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of First American Financial during the second quarter worth $55,000. SHP Wealth Management bought a new position in First American Financial in the fourth quarter valued at about $51,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in First American Financial in the 2nd quarter valued at approximately $73,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of First American Financial during the second quarter valued at $73,000. Institutional investors own 89.05% of the company's stock.

About First American Financial

First American Financial Corporation NYSE: FAF provides title insurance, settlement services and related real estate transaction solutions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in title, liens and other issues affecting ownership or mortgage interests.

The company also offers escrow and closing services, title search and examination, property information, valuation, mortgage subservicing and other technology-enabled solutions for the real estate and mortgage industries.

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