First American Financial (NYSE:FAF) PT Raised to $92.00 at Truist

First American Financial (NYSE:FAF) had its price objective lifted by investment analysts at Truist from $84.00 to $92.00 in a research report issued to clients and investors on Thursday, The Fly reports. Truist’s price target would suggest a potential upside of 15.67% from the company’s previous close.

Separately, Cantor Fitzgerald reduced their target price on shares of First American Financial from $13.00 to $10.40 and set an “overweight” rating on the stock in a report on Wednesday, December 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, First American Financial currently has an average rating of “Buy” and a consensus target price of $69.93.

Shares of FAF opened at $79.54 on Thursday. The firm has a market cap of $8.73 billion, a PE ratio of 7.03 and a beta of 1.21. The company’s fifty day moving average is $76.69 and its two-hundred day moving average is $71.18. First American Financial has a fifty-two week low of $48.69 and a fifty-two week high of $81.54.

First American Financial (NYSE:FAF) last announced its quarterly earnings results on Wednesday, October 20th. The insurance provider reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.29. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.04 billion. First American Financial had a net margin of 14.02% and a return on equity of 17.25%. First American Financial’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the business earned $1.31 EPS. Equities research analysts anticipate that First American Financial will post 7.56 EPS for the current year.

In other First American Financial news, President Kenneth D. Degiorgio sold 10,400 shares of the business’s stock in a transaction on Monday, October 25th. The shares were sold at an average price of $74.50, for a total value of $774,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Kenneth D. Degiorgio sold 15,739 shares of the business’s stock in a transaction on Friday, October 22nd. The stock was sold at an average price of $74.71, for a total transaction of $1,175,860.69. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional increased its position in shares of First American Financial by 0.7% in the 3rd quarter. CX Institutional now owns 21,110 shares of the insurance provider’s stock worth $1,415,000 after purchasing an additional 138 shares during the last quarter. ProShare Advisors LLC increased its position in shares of First American Financial by 0.9% in the 2nd quarter. ProShare Advisors LLC now owns 17,713 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 151 shares during the last quarter. Arden Trust Co increased its position in shares of First American Financial by 4.2% in the 3rd quarter. Arden Trust Co now owns 3,887 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 156 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of First American Financial by 1.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,448 shares of the insurance provider’s stock worth $767,000 after purchasing an additional 163 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of First American Financial by 0.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 47,127 shares of the insurance provider’s stock worth $2,937,000 after purchasing an additional 175 shares during the last quarter. 84.89% of the stock is owned by institutional investors.

About First American Financial

First American Financial Corp. operates as an insurance company. It provides title insurance and settlement services to the real estate and mortgage industries. The company operates its business through the following segments: Title Insurance & Services and Specialty Insurance. The Title Insurance & Services segment provides title insurance, escrow, closing services and similar or related financial services domestically and internationally in connection with residential and commercial real estate transactions.

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