First American Financial (NYSE:FAF) Hits New 1-Year Low - Here's What Happened

First American Financial Corporation (NYSE:FAF - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $53.77 and last traded at $54.66, with a volume of 941754 shares traded. The stock had previously closed at $59.96.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays reduced their price objective on First American Financial from $72.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday. Wall Street Zen downgraded First American Financial from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods upped their price objective on First American Financial from $75.00 to $77.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $74.50.

First American Financial Trading Up 2.6%

The firm has a fifty day simple moving average of $58.83 and a 200-day simple moving average of $61.24. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 38.44 and a beta of 1.24.

First American Financial (NYSE:FAF - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.19. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. First American Financial had a return on equity of 10.05% and a net margin of 2.52%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. On average, equities analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current fiscal year.

First American Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, June 9th. First American Financial's dividend payout ratio (DPR) is currently 143.05%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new position in First American Financial during the fourth quarter worth about $75,780,000. FMR LLC lifted its holdings in First American Financial by 20.8% during the fourth quarter. FMR LLC now owns 6,046,743 shares of the insurance provider's stock worth $377,559,000 after acquiring an additional 1,042,145 shares in the last quarter. Boston Partners lifted its holdings in First American Financial by 23.0% during the first quarter. Boston Partners now owns 4,692,258 shares of the insurance provider's stock worth $307,181,000 after acquiring an additional 876,874 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in First American Financial by 13,222.0% during the fourth quarter. Corient Private Wealth LLC now owns 849,279 shares of the insurance provider's stock worth $53,029,000 after acquiring an additional 842,904 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in First American Financial by 500.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,003,327 shares of the insurance provider's stock worth $62,646,000 after acquiring an additional 836,314 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company's stock.

First American Financial Company Profile

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.