Keefe, Bruyette & Woods Issues Pessimistic Forecast for First American Financial (NYSE:FAF) Stock Price

First American Financial (NYSE:FAF) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $80.00 to $74.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 23.23% from the stock’s previous close.

Several other research firms have also issued reports on FAF. Truist Financial upped their target price on First American Financial from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays increased their price target on shares of First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Stephens lifted their price target on First American Financial from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, First American Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

First American Financial Stock Down 0.8 %

Shares of FAF opened at $60.05 on Wednesday. First American Financial has a twelve month low of $51.60 and a twelve month high of $70.92. The stock has a market capitalization of $6.19 billion, a P/E ratio of 67.47 and a beta of 1.30. The company has a 50 day moving average of $64.97 and a 200-day moving average of $62.72.

First American Financial (NYSE:FAF) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.19. First American Financial had a net margin of 1.58% and a return on equity of 7.95%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that First American Financial will post 4.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Barclays PLC increased its stake in shares of First American Financial by 15.2% during the third quarter. Barclays PLC now owns 60,821 shares of the insurance provider’s stock worth $4,016,000 after purchasing an additional 8,047 shares during the period. Geode Capital Management LLC grew its holdings in First American Financial by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider’s stock valued at $112,306,000 after buying an additional 12,668 shares in the last quarter. Envestnet Asset Management Inc. increased its position in First American Financial by 5.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock worth $8,067,000 after buying an additional 7,885 shares during the period. Primoris Wealth Advisors LLC acquired a new stake in shares of First American Financial during the third quarter worth $1,584,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of First American Financial by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider’s stock valued at $98,560,000 after acquiring an additional 66,290 shares during the period. 89.05% of the stock is owned by institutional investors.

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.