Keefe, Bruyette & Woods Cuts First American Financial (NYSE:FAF) Price Target to $74.00

First American Financial (NYSE:FAF) had its price objective reduced by Keefe, Bruyette & Woods from $80.00 to $74.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

FAF has been the subject of a number of other reports. Truist Financial boosted their target price on shares of First American Financial from $68.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Stephens increased their target price on First American Financial from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Barclays boosted their price target on First American Financial from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

First American Financial Stock Down 0.8 %

Shares of FAF opened at $60.05 on Wednesday. The company has a market capitalization of $6.19 billion, a P/E ratio of 67.47 and a beta of 1.30. First American Financial has a twelve month low of $51.60 and a twelve month high of $70.92. The firm has a 50 day moving average of $65.06 and a 200 day moving average of $62.74.

First American Financial (NYSE:FAF) last released its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.15 by $0.19. First American Financial had a return on equity of 7.95% and a net margin of 1.58%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the company earned $1.22 EPS. First American Financial’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts expect that First American Financial will post 4.07 EPS for the current year.

First American Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Monday, December 9th. First American Financial’s dividend payout ratio (DPR) is presently 242.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FAF. Barclays PLC raised its stake in First American Financial by 15.2% in the third quarter. Barclays PLC now owns 60,821 shares of the insurance provider’s stock worth $4,016,000 after buying an additional 8,047 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First American Financial by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,700,903 shares of the insurance provider’s stock worth $112,306,000 after acquiring an additional 12,668 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of First American Financial by 5.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 149,530 shares of the insurance provider’s stock worth $8,067,000 after purchasing an additional 7,885 shares during the last quarter. Primoris Wealth Advisors LLC bought a new stake in First American Financial during the third quarter valued at about $1,584,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in First American Financial by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,493,111 shares of the insurance provider’s stock valued at $98,560,000 after purchasing an additional 66,290 shares during the last quarter. Hedge funds and other 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.