First American Financial (NYSE:FAF) Reaches New 12-Month High - What's Next?

First American Financial Co. (NYSE:FAF - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $67.98 and last traded at $67.98, with a volume of 102 shares. The stock had previously closed at $67.59.

Analyst Ratings Changes

FAF has been the subject of a number of research reports. Stephens reaffirmed an "overweight" rating and set a $66.00 price target on shares of First American Financial in a research note on Thursday, July 25th. Barclays raised their target price on First American Financial from $61.00 to $70.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of First American Financial from $66.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Finally, Truist Financial lifted their price objective on shares of First American Financial from $65.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

First American Financial Stock Performance

The stock has a market cap of $6.97 billion, a PE ratio of 32.03 and a beta of 1.29. The stock has a 50 day moving average of $64.17 and a two-hundred day moving average of $58.84.

First American Financial (NYSE:FAF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. First American Financial had a net margin of 3.28% and a return on equity of 7.98%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The firm's quarterly revenue was down 2.1% on a year-over-year basis. Analysts expect that First American Financial Co. will post 3.89 EPS for the current fiscal year.

First American Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.21%. This is a positive change from First American Financial's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, September 20th. First American Financial's payout ratio is presently 103.35%.

Hedge Funds Weigh In On First American Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. raised its holdings in shares of First American Financial by 99.1% during the second quarter. Mather Group LLC. now owns 671 shares of the insurance provider's stock worth $36,000 after acquiring an additional 334 shares in the last quarter. GAMMA Investing LLC increased its position in First American Financial by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 709 shares of the insurance provider's stock worth $38,000 after purchasing an additional 257 shares during the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of First American Financial by 56.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 798 shares of the insurance provider's stock worth $49,000 after purchasing an additional 288 shares in the last quarter. Quarry LP raised its stake in shares of First American Financial by 340.8% during the 2nd quarter. Quarry LP now owns 864 shares of the insurance provider's stock worth $47,000 after purchasing an additional 668 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of First American Financial during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 89.05% of the company's stock.

About First American Financial

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.