First American Financial (NYSE:FAF) Price Target Lowered to $63.00 at Keefe, Bruyette & Woods

First American Financial (NYSE:FAF) had its price objective reduced by Keefe, Bruyette & Woods from $67.00 to $63.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other research analysts have also recently issued reports on FAF. TheStreet cut shares of First American Financial from a b- rating to a c+ rating in a report on Tuesday, March 12th. Stephens reiterated an overweight rating and set a $72.00 price objective on shares of First American Financial in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $66.25.

First American Financial Stock Performance

Shares of NYSE:FAF opened at $53.61 on Tuesday. The company has a market capitalization of $5.56 billion, a PE ratio of 25.65 and a beta of 1.28. First American Financial has a 52 week low of $49.55 and a 52 week high of $65.54. The company’s fifty day moving average is $54.64 and its 200-day moving average is $57.81.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.45 earnings per share 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 company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that First American Financial will post 3.82 EPS for the current year.

First American Financial Dividend Announcement

The business also recently disclosed 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 3.95%. The ex-dividend date was Monday, June 10th. First American Financial’s payout ratio is 101.44%.

Institutional Investors Weigh In On First American Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of First American Financial in the fourth quarter valued at approximately $76,210,000. Boston Partners grew its holdings 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 buying an additional 479,618 shares in the last quarter. Vanguard Group Inc. increased its position in First American Financial by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after buying an additional 431,089 shares during the period. MKP Capital Management L.L.C. acquired a new stake in shares of First American Financial during the fourth quarter worth $25,776,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of First American Financial by 46.1% in the fourth 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 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.