First American Financial (FAF) Sets New 12-Month Low at $46.85

First American Financial Corp (NYSE:FAF) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $46.85 and last traded at $47.25, with a volume of 48383 shares trading hands. The stock had previously closed at $51.10.

A number of brokerages have recently issued reports on FAF. Zacks Investment Research raised shares of First American Financial from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, June 26th. Piper Jaffray Companies boosted their price objective on shares of First American Financial from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Keefe, Bruyette & Woods raised shares of First American Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Monday, July 16th. Finally, ValuEngine downgraded shares of First American Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.50.

The company has a market cap of $5.76 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70.

First American Financial (NYSE:FAF) last released its earnings results on Thursday, July 26th. The insurance provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. First American Financial had a net margin of 8.19% and a return on equity of 15.03%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the company earned $1.09 EPS. First American Financial’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that First American Financial Corp will post 4.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Monday, September 10th were paid a dividend of $0.42 per share. This is a boost from First American Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, September 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.63%. First American Financial’s payout ratio is 61.09%.

In related news, EVP Kenneth D. Degiorgio sold 13,871 shares of First American Financial stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $57.25, for a total transaction of $794,114.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew F. Wajner sold 4,982 shares of First American Financial stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $57.29, for a total transaction of $285,418.78. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FAF. BlackRock Inc. lifted its stake in First American Financial by 5.7% in the 2nd quarter. BlackRock Inc. now owns 10,865,847 shares of the insurance provider’s stock worth $561,982,000 after purchasing an additional 586,268 shares in the last quarter. Millennium Management LLC lifted its stake in First American Financial by 73.3% in the 1st quarter. Millennium Management LLC now owns 983,685 shares of the insurance provider’s stock worth $57,723,000 after purchasing an additional 415,975 shares in the last quarter. Principal Financial Group Inc. lifted its stake in First American Financial by 70.7% in the 1st quarter. Principal Financial Group Inc. now owns 966,832 shares of the insurance provider’s stock worth $56,733,000 after purchasing an additional 400,378 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in First American Financial by 791.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 440,727 shares of the insurance provider’s stock worth $22,794,000 after purchasing an additional 391,283 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in First American Financial by 23.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,031,575 shares of the insurance provider’s stock worth $105,073,000 after purchasing an additional 384,319 shares in the last quarter. Institutional investors own 84.39% of the company’s stock.

First American Financial Company Profile (NYSE:FAF)

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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