First American Financial (NYSE:FAF) Shares Down 7%

First American Financial Co. (NYSE:FAF - Get Free Report) was down 7% during mid-day trading on Wednesday . The stock traded as low as $55.89 and last traded at $55.89. Approximately 156,966 shares changed hands during trading, a decline of 78% from the average daily volume of 702,821 shares. The stock had previously closed at $60.07.

Analysts Set New Price Targets

A number of research firms recently commented on FAF. TheStreet lowered shares of First American Financial from a "b-" rating to a "c+" rating in a research report on Tuesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on First American Financial in a research note on Wednesday, January 10th. They set a "buy" rating on the stock. Stephens reaffirmed an "overweight" rating and issued a $73.00 price objective on shares of First American Financial in a research note on Thursday, February 8th. Finally, Keefe, Bruyette & Woods upgraded First American Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $66.00 to $69.00 in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

First American Financial Stock Down 7.6 %

The business's fifty day moving average is $58.30 and its 200-day moving average is $58.23. The stock has a market capitalization of $5.75 billion, a PE ratio of 26.68 and a beta of 1.28.

First American Financial (NYSE:FAF - Get Free Report) last issued its earnings results on Thursday, February 8th. The insurance provider reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.06). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.47 billion. First American Financial had a net margin of 3.61% and a return on equity of 8.27%. First American Financial's revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 EPS. As a group, sell-side analysts anticipate that First American Financial Co. will post 4.47 EPS for the current fiscal year.

First American Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a $0.53 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.82%. First American Financial's dividend payout ratio (DPR) is currently 101.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FAF. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of First American Financial in the 4th quarter valued at about $26,000. GAMMA Investing LLC acquired a new position in First American Financial in the fourth quarter valued at approximately $33,000. Point72 Hong Kong Ltd acquired a new position in First American Financial during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new position in shares of First American Financial during the fourth quarter worth about $44,000. Finally, Brown Brothers Harriman & Co. bought a new position in First American Financial in the 1st quarter worth about $46,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

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.