Barclays Boosts First American Financial (NYSE:FAF) Price Target to $72.00

First American Financial (NYSE:FAF) had its price objective increased by investment analysts at Barclays from $70.00 to $72.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price objective would suggest a potential upside of 13.51% from the stock’s previous close.

Several other analysts have also recently weighed in on FAF. Truist Financial lifted their price target on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of First American Financial from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stephens reiterated an “overweight” rating and issued a $66.00 price objective on shares of First American Financial in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.75.

First American Financial Price Performance

First American Financial stock traded down $0.51 during mid-day trading on Friday, hitting $63.43. 290,935 shares of the company’s stock traded hands, compared to its average volume of 674,373. The firm has a 50 day simple moving average of $64.69 and a two-hundred day simple moving average of $59.06. First American Financial has a fifty-two week low of $49.55 and a fifty-two week high of $67.88. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 30.35 and a beta of 1.29.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. First American Financial’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 EPS. On average, research analysts anticipate that First American Financial will post 3.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First American Financial

A number of institutional investors have recently modified their holdings of FAF. First Eagle Investment Management LLC boosted its stake in shares of First American Financial by 7.3% in the 1st quarter. First Eagle Investment Management LLC now owns 187,285 shares of the insurance provider’s stock valued at $11,434,000 after purchasing an additional 12,720 shares in the last quarter. Vanguard Group Inc. boosted its position in First American Financial by 4.3% during the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock valued at $645,118,000 after acquiring an additional 431,089 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of First American Financial by 9.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,340,491 shares of the insurance provider’s stock valued at $81,836,000 after purchasing an additional 111,197 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of First American Financial during the 2nd quarter valued at about $1,191,000. Finally, Seven Eight Capital LP acquired a new stake in First American Financial during the first quarter worth approximately $2,634,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

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.