First American Financial Co. (NYSE:FAF – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Wednesday, June 8th will be paid a dividend of 0.51 per share by the insurance provider on Wednesday, June 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, June 7th.
First American Financial has raised its dividend by an average of 6.6% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. First American Financial has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First American Financial to earn $7.25 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 28.1%.
Shares of NYSE:FAF opened at $58.85 on Friday. First American Financial has a twelve month low of $57.36 and a twelve month high of $81.54. The firm has a market cap of $6.32 billion, a PE ratio of 5.93 and a beta of 1.21. The business has a fifty day moving average of $62.98 and a 200-day moving average of $70.51.
A number of brokerages have recently weighed in on FAF. Barclays raised their target price on First American Financial from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 11th. Truist Financial raised their target price on First American Financial from $84.00 to $92.00 in a report on Thursday, January 13th. Credit Suisse Group cut First American Financial from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $97.00 to $74.00 in a report on Friday, April 1st. StockNews.com initiated coverage on First American Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, BTIG Research reduced their target price on First American Financial from $93.00 to $86.00 in a report on Tuesday, April 12th. Three 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.com, the company currently has an average rating of “Buy” and a consensus target price of $70.57.
Institutional investors have recently made changes to their positions in the stock. Forum Financial Management LP acquired a new position in shares of First American Financial during the 4th quarter worth approximately $205,000. Cambridge Investment Research Advisors Inc. boosted its stake in First American Financial by 7.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,725 shares of the insurance provider’s stock valued at $241,000 after purchasing an additional 247 shares during the period. Synovus Financial Corp boosted its stake in First American Financial by 3.7% in the 4th quarter. Synovus Financial Corp now owns 3,942 shares of the insurance provider’s stock valued at $305,000 after purchasing an additional 142 shares during the period. Walleye Trading LLC bought a new stake in First American Financial in the 4th quarter valued at $316,000. Finally, JustInvest LLC boosted its stake in First American Financial by 24.0% in the 4th quarter. JustInvest LLC now owns 5,283 shares of the insurance provider’s stock valued at $413,000 after purchasing an additional 1,021 shares during the period. 84.95% of the stock is currently owned by institutional investors and hedge funds.
First American Financial Company Profile (Get Rating)
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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