First American Financial Corp. (NYSE:FAF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “First American Financial Corporation provides financial services through its Title Insurance and Services segment and its Specialty Insurance segment. The Title Insurance and Services segment provides title insurance policies and provides escrow and real estate closing services on residential and commercial property. It also maintains, manages, and provides access to automated title plant records and images; accommodates tax-deferred exchanges of real estate; and provides investment advisory, trust, lending, and deposit services. The Specialty Insurance segment offers property and casualty insurance, including homeowners insurance, as well as provides home warranty policies. This segment markets its property and casualty insurance products through direct distribution channels, including employees and agents, as well as a network of brokers. First American Financial Corporation is based in Santa Ana, California. “
Separately, Piper Jaffray Cos. reissued a “neutral” rating and issued a $45.00 target price (up previously from $42.00) on shares of First American Financial Corp. in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $43.00.
Shares of First American Financial Corp. (NYSE:FAF) traded up 0.13% during midday trading on Tuesday, reaching $39.96. 885,646 shares of the company’s stock were exchanged. First American Financial Corp. has a 12 month low of $31.74 and a 12 month high of $43.55. The stock has a market cap of $4.38 billion, a PE ratio of 14.13 and a beta of 0.79. The company’s 50 day moving average is $41.78 and its 200-day moving average is $39.15.
First American Financial Corp. (NYSE:FAF) last announced its earnings results on Thursday, July 21st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.04. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. First American Financial Corp. had a net margin of 5.88% and a return on equity of 11.13%. First American Financial Corp.’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. Equities analysts forecast that First American Financial Corp. will post $3.00 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Tuesday, September 6th. This is an increase from First American Financial Corp.’s previous quarterly dividend of $0.26. First American Financial Corp.’s payout ratio is 48.23%.
In related news, Director Mark C. Oman purchased 2,700 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was acquired at an average price of $42.08 per share, with a total value of $113,616.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. increased its position in First American Financial Corp. by 0.5% in the second quarter. James Investment Research Inc. now owns 7,887 shares of the company’s stock worth $317,000 after buying an additional 37 shares during the period. US Bancorp DE increased its position in First American Financial Corp. by 0.9% in the second quarter. US Bancorp DE now owns 6,690 shares of the company’s stock worth $269,000 after buying an additional 59 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in First American Financial Corp. by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 18,917 shares of the company’s stock worth $761,000 after buying an additional 97 shares during the period. Alpha Windward LLC increased its position in First American Financial Corp. by 0.9% in the second quarter. Alpha Windward LLC now owns 11,681 shares of the company’s stock worth $470,000 after buying an additional 106 shares during the period. Finally, Arizona State Retirement System increased its position in First American Financial Corp. by 0.6% in the first quarter. Arizona State Retirement System now owns 51,901 shares of the company’s stock worth $1,978,000 after buying an additional 300 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.
First American Financial Corp. Company Profile
First American Financial Corporation is a holding company. Through its subsidiaries, the Company is engaged in the business of providing financial services. The Company’s segments include Title Insurance and Services, Specialty Insurance and corporate function. The Company’s title insurance and services segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally.
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