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

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

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

First American Financial Price Performance

Shares of NYSE FAF opened at $55.96 on Tuesday. The stock has a market capitalization of $5.80 billion, a P/E ratio of 26.78 and a beta of 1.28. First American Financial has a 1-year low of $49.55 and a 1-year high of $65.54. The business has a fifty day moving average price of $54.49 and a 200 day moving average price of $57.37.

First American Financial (NYSE:FAF) last announced its earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a net margin of 3.64% and a return on equity of 8.17%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that First American Financial will post 3.82 earnings per share for the current fiscal year.

First American Financial Dividend Announcement

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

Institutional Trading of First American Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FAF. Norges Bank acquired a new stake in First American Financial during the fourth quarter worth about $76,210,000. Boston Partners grew its holdings in First American Financial by 13.3% during the first quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after acquiring an additional 479,618 shares during the period. Vanguard Group Inc. grew its holdings in First American Financial by 4.3% during the first quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after acquiring an additional 431,089 shares during the period. MKP Capital Management L.L.C. acquired a new stake in First American Financial during the fourth quarter worth about $25,776,000. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in First American Financial by 46.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,229,294 shares of the insurance provider’s stock worth $79,216,000 after acquiring an additional 387,848 shares during the period. 89.05% of the stock is owned by institutional investors and hedge funds.

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.