First American Financial (NYSE:FAF) Price Target Cut to $70.00 by Analysts at Barclays

First American Financial (NYSE:FAF - Get Free Report) had its price objective decreased by stock analysts at Barclays from $72.00 to $70.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the insurance provider's stock. Barclays's price objective points to a potential upside of 16.74% from the stock's previous close.

Several other equities research analysts have also recently commented on the company. Wall Street Zen raised First American Financial from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods increased their price target on First American Financial from $75.00 to $77.00 and gave the company an "outperform" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, First American Financial has a consensus rating of "Moderate Buy" and a consensus price target of $74.50.

First American Financial Price Performance

First American Financial stock traded down $2.59 during trading hours on Tuesday, hitting $59.96. 2,302,220 shares of the stock traded hands, compared to its average volume of 753,999. The firm's 50 day moving average price is $59.00 and its 200-day moving average price is $61.35. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 39.71 and a beta of 1.24. First American Financial has a 1 year low of $52.39 and a 1 year high of $70.92.

First American Financial (NYSE:FAF - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.19. The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.53 billion. First American Financial had a return on equity of 10.05% and a net margin of 2.52%. First American Financial's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Research analysts forecast that First American Financial will post 5.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First American Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in First American Financial by 8,031.7% in the first quarter. GAMMA Investing LLC now owns 87,091 shares of the insurance provider's stock valued at $5,716,000 after acquiring an additional 86,020 shares during the last quarter. Bar Harbor Wealth Management grew its stake in shares of First American Financial by 30.5% during the first quarter. Bar Harbor Wealth Management now owns 126,093 shares of the insurance provider's stock valued at $8,275,000 after acquiring an additional 29,466 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of First American Financial during the first quarter worth about $829,000. Harbor Capital Advisors Inc. lifted its holdings in First American Financial by 24.1% in the first quarter. Harbor Capital Advisors Inc. now owns 107,397 shares of the insurance provider's stock worth $7,048,000 after acquiring an additional 20,890 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new position in First American Financial in the first quarter worth about $686,000. Hedge funds and other institutional investors own 89.05% of the company's stock.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.