First American Financial (NYSE:FAF) Given New $79.00 Price Target at Barclays

First American Financial (NYSE:FAF) had its target price cut by Barclays from $83.00 to $79.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other research analysts have also issued research reports about the stock. Stephens reiterated an “overweight” rating and set a $84.00 price objective on shares of First American Financial in a research note on Friday, June 12th. Keefe, Bruyette & Woods raised their target price on shares of First American Financial from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First American Financial in a report on Monday, July 20th. Zacks Research downgraded First American Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Benchmark began coverage on First American Financial in a research report on Tuesday, July 21st. They set a “buy” rating and a $85.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, First American Financial currently has a consensus rating of “Moderate Buy” and an average price target of $83.80.

First American Financial Price Performance

Shares of FAF stock opened at $62.19 on Monday. The stock’s 50-day moving average is $71.63 and its 200 day moving average is $68.39. First American Financial has a 1-year low of $56.20 and a 1-year high of $79.87. The company has a market cap of $6.35 billion, a P/E ratio of 8.61, a PEG ratio of 0.58 and a beta of 1.24.

First American Financial (NYSE:FAF) last announced its earnings results on Wednesday, July 22nd. The insurance provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.28. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.03 billion. First American Financial had a net margin of 9.33% and a return on equity of 13.31%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. On average, analysts anticipate that First American Financial will post 7.12 EPS for the current year.

First American Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 28th were issued a dividend of $0.55 per share. The ex-dividend date was Monday, September 28th. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. First American Financial’s dividend payout ratio is 33.80%.

Insider Activity at First American Financial

In related news, CAO Steven Adams sold 3,253 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $74.99, for a total value of $243,942.47. Following the completion of the transaction, the chief accounting officer directly owned 10,234 shares of the company’s stock, valued at $767,447.66. This trade represents a 24.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by insiders.

Institutional Trading of First American Financial

Several large investors have recently bought and sold shares of FAF. BlackRock Inc. purchased a new stake in shares of First American Financial in the 2nd quarter valued at $643,570,000. Davis Asset Management L.P. purchased a new position in shares of First American Financial during the second quarter worth $102,885,000. Mendon Capital Advisors Corp purchased a new position in shares of First American Financial during the first quarter worth $71,680,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of First American Financial by 469.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,284,417 shares of the insurance provider’s stock worth $77,438,000 after purchasing an additional 1,058,949 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in First American Financial during the second quarter valued at $57,413,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

First American Financial Company Profile

First American Financial Corporation (NYSE: FAF) provides title insurance, settlement services and related real estate transaction solutions. Through its title insurance operations, the company protects property buyers, lenders and other parties against certain losses arising from defects in title, liens and other issues affecting ownership or mortgage interests.

The company also offers escrow and closing services, title search and examination, property information, valuation, mortgage subservicing and other technology-enabled solutions for the real estate and mortgage industries.