Barclays Cuts First American Financial (NYSE:FAF) Price Target to $61.00

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

FAF has been the topic of a number of other research reports. Stephens restated an overweight rating and set a $72.00 target price on shares of First American Financial in a research note on Thursday, April 25th. Keefe, Bruyette & Woods cut their price objective on shares of First American Financial from $67.00 to $63.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Finally, TheStreet lowered shares of First American Financial from a b- rating to a c+ rating in a report on Tuesday, March 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, First American Financial currently has an average rating of Moderate Buy and an average target price of $68.25.

First American Financial Trading Up 0.7 %

NYSE FAF opened at $56.36 on Tuesday. First American Financial has a 12 month low of $49.55 and a 12 month high of $65.54. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 26.97 and a beta of 1.28. The company’s 50 day moving average is $54.53 and its two-hundred day moving average is $57.31.

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

First American Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Monday, June 10th. First American Financial’s dividend payout ratio (DPR) is presently 101.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FAF. Mercer Global Advisors Inc. ADV grew its holdings in shares of First American Financial by 16.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 39,955 shares of the insurance provider’s stock valued at $2,257,000 after purchasing an additional 5,722 shares in the last quarter. Graham Capital Management L.P. bought a new stake in First American Financial in the third quarter worth $721,000. EP Wealth Advisors LLC lifted its position in First American Financial by 636.3% in the third quarter. EP Wealth Advisors LLC now owns 36,623 shares of the insurance provider’s stock worth $2,069,000 after buying an additional 31,649 shares during the last quarter. Neo Ivy Capital Management lifted its position in First American Financial by 119.2% in the third quarter. Neo Ivy Capital Management now owns 56,392 shares of the insurance provider’s stock worth $3,186,000 after buying an additional 30,664 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in First American Financial by 92.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,405 shares of the insurance provider’s stock worth $2,000,000 after buying an additional 17,025 shares during the last quarter. 89.05% of the stock is owned by hedge funds and other 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.