First American Financial (NYSE:FAF) Stock Price Down 5% – What’s Next?

by · The Markets Daily

First American Financial Corporation (NYSE:FAFGet Free Report)’s stock price traded down 5% during mid-day trading on Friday . The company traded as low as $72.40 and last traded at $72.6910. 652,575 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 953,786 shares. The stock had previously closed at $76.51.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FAF shares. Keefe, Bruyette & Woods increased their price target on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Barclays upped their price objective on shares of First American Financial from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Stephens restated an “overweight” rating and issued a $84.00 target price on shares of First American Financial in a research note on Friday, June 12th. Zacks Research downgraded shares of First American Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a research note on Monday, July 20th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.60.

Get Our Latest Research Report on FAF

First American Financial Trading Down 4.9%

The firm has a 50 day moving average price of $72.71 and a 200-day moving average price of $68.24. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.67 and a beta of 1.21.

First American Financial (NYSE:FAFGet Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.28. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. As a group, equities analysts expect that First American Financial Corporation will post 7.11 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 First American Financial stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $74.99, for a total transaction of $243,942.47. Following the completion of the transaction, the chief accounting officer directly owned 10,234 shares in the company, valued at $767,447.66. The trade was a 24.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First American Financial

A number of large investors have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. raised its holdings in shares of First American Financial by 616.4% in the first quarter. Duncker Streett & Co. Inc. now owns 437 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 376 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of First American Financial by 1,107.5% during the fourth quarter. Global Retirement Partners LLC now owns 483 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 443 shares during the last quarter. Danske Bank A S purchased a new stake in First American Financial during the 3rd quarter worth about $45,000. IFP Advisors Inc increased its position in First American Financial by 568.8% during the 4th quarter. IFP Advisors Inc now owns 749 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 637 shares in the last quarter. Finally, SHP Wealth Management acquired a new position in First American Financial in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

First American Financial Company Profile

(Get Free Report)

First American Financial Corporation is a leading provider of title insurance, settlement services and diversified real estate-related data and analytics. Headquartered in Santa Ana, California, the company serves customers throughout the United States as well as in Canada, Europe, Latin America and Asia. Its business is built on the underwriting capabilities of its title insurance operations combined with comprehensive closing and escrow services for homebuyers, sellers, mortgage lenders and real estate professionals.

The company’s title insurance segment issues policies that protect property owners and mortgage lenders against defects in titles, liens or encumbrances that can arise during real property transactions.

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