First American Financial (NYSE:FAF) Announces Earnings Results

First American Financial (NYSE:FAF) announced its quarterly earnings data on Wednesday. The insurance provider reported $1.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.03), FiscalAI reports. First American Financial had a return on equity of 13.31% and a net margin of 9.33%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion.

First American Financial Stock Up 0.6%

Shares of FAF stock traded up $0.43 during trading hours on Wednesday, hitting $66.69. 1,612,233 shares of the company’s stock traded hands, compared to its average volume of 962,860. The stock’s 50 day simple moving average is $68.91 and its 200 day simple moving average is $68.69. The stock has a market cap of $6.81 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 0.60 and a beta of 1.24. First American Financial has a 12 month low of $56.20 and a 12 month high of $79.87.

First American Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, September 28th. First American Financial’s dividend payout ratio is 33.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FAF shares. Zacks Research cut shares of First American Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of First American Financial in a research report on Friday. Truist Financial decreased their price objective on shares of First American Financial from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, October 15th. Keefe, Bruyette & Woods upped their target price on First American Financial from $84.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Benchmark assumed coverage on First American Financial in a report on Tuesday, July 21st. They issued a “buy” rating and a $85.00 target price on the stock. 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 company has an average rating of “Moderate Buy” and an average target price of $82.80.

Insider Buying and Selling at First American Financial

In related news, CAO Steven Adams sold 3,253 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $74.99, for a total value of $243,942.47. Following the sale, the chief accounting officer owned 10,234 shares of the company’s stock, valued at $767,447.66. The trade was a 24.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

First American Financial Company Profile

First American Financial Corporation (NYSE: FAF) is a provider of title insurance, settlement services and financial technology solutions for the real estate and mortgage industries. Through its First American Title operations, the company helps protect property owners, lenders and other parties against title defects and related risks during real estate transactions.

The company’s services include title searches and examination, title insurance policies, escrow and closing services, and transaction coordination.