First American Financial (NYSE:FAF) Price Target Cut to $83.00 by Analysts at Barclays

First American Financial (NYSE:FAF – Get Rating) had its price target cut by Barclays from $87.00 to $83.00 in a research report sent to investors on Monday, The Fly reports. They currently have an overweight rating on the insurance provider’s stock.

Several other analysts have also recently issued reports on the company. BTIG Research cut their target price on First American Financial from $81.00 to $79.00 and set a buy rating on the stock in a research note on Friday. StockNews.com initiated coverage on First American Financial in a research note on Thursday, March 31st. They set a hold rating on the stock. Finally, Credit Suisse Group lowered First American Financial from an outperform rating to a neutral rating and dropped their price target for the stock from $97.00 to $74.00 in a research note on Friday, April 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First American Financial has a consensus rating of Moderate Buy and an average price target of $67.68.

Shares of First American Financial stock opened at $54.66 on Monday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 5.45 and a beta of 1.22. First American Financial has a one year low of $48.81 and a one year high of $81.54. The business’s 50 day simple moving average is $56.87 and its two-hundred day simple moving average is $64.77.

First American Financial (NYSE:FAF – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The insurance provider reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. First American Financial had a net margin of 11.98% and a return on equity of 15.61%. As a group, sell-side analysts forecast that First American Financial will post 6.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 8th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, June 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.73%. First American Financial’s dividend payout ratio (DPR) is 20.54%.

In related news, COO Christopher Michael Leavell sold 39,206 shares of First American Financial stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $59.61, for a total transaction of $2,337,069.66. Following the sale, the chief operating officer now directly owns 166,465 shares in the company, valued at $9,922,978.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. bought a new position in shares of First American Financial during the fourth quarter valued at approximately $203,000. Blossom Wealth Management bought a new position in First American Financial during the 4th quarter valued at approximately $214,000. Midwest Wealth Management Inc. raised its stake in First American Financial by 6.8% during the fourth quarter. Midwest Wealth Management Inc. now owns 20,222 shares of the insurance provider’s stock valued at $1,582,000 after buying an additional 1,282 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in First American Financial during the fourth quarter valued at $365,000. Finally, Donald L. Hagan LLC boosted its holdings in First American Financial by 1.4% in the fourth quarter. Donald L. Hagan LLC now owns 10,309 shares of the insurance provider’s stock worth $806,000 after acquiring an additional 143 shares in the last quarter. 84.95% of the stock is currently owned by institutional investors and hedge funds.

First American Financial Company Profile (Get Rating)

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.

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