First American Financial (NYSE:FAF) PT Lowered to $61.00

First American Financial (NYSE:FAF) had its target price reduced by Barclays from $65.00 to $61.00 in a research note issued to investors on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the company. TheStreet downgraded First American Financial from a b- rating to a c+ rating in a report on Tuesday, March 12th. Stephens reaffirmed an overweight rating and set a $72.00 price target on shares of First American Financial in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on First American Financial from $67.00 to $63.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $68.25.

First American Financial Trading Up 5.1 %

NYSE:FAF opened at $55.96 on Tuesday. The firm has a market cap of $5.80 billion, a PE ratio of 26.78 and a beta of 1.28. The stock has a fifty day moving average price of $54.49 and a 200 day moving average price of $57.37. First American Financial has a 12-month low of $49.55 and a 12-month high of $65.54.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.22). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. First American Financial had a net margin of 3.64% and a return on equity of 8.17%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Equities analysts forecast that First American Financial will post 3.82 EPS for the current year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Monday, June 10th. First American Financial’s payout ratio is currently 101.44%.

Hedge Funds Weigh In On First American Financial

Several institutional investors have recently added to or reduced their stakes in FAF. Norges Bank acquired a new position in First American Financial in the 4th quarter valued at about $76,210,000. Boston Partners increased its position in First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock valued at $248,237,000 after acquiring an additional 479,618 shares during the period. Vanguard Group Inc. increased its position in First American Financial by 4.3% in the 1st 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 period. MKP Capital Management L.L.C. acquired a new position in First American Financial in the 4th quarter valued at about $25,776,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in First American Financial by 46.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,229,294 shares of the insurance provider’s stock valued at $79,216,000 after acquiring an additional 387,848 shares during the period. 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.