First American Financial (NYSE:FAF) Reaches New 52-Week Low at $49.09

First American Financial Co. (NYSE:FAFGet Rating)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $49.09 and last traded at $49.41, with a volume of 4961 shares traded. The stock had previously closed at $52.60.

FAF has been the subject of a number of recent research reports. BTIG Research decreased their price objective on shares of First American Financial from $93.00 to $86.00 in a report on Tuesday, April 12th. Credit Suisse Group lowered shares of First American Financial from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $97.00 to $74.00 in a research report on Friday, April 1st. Finally, StockNews.com started coverage on shares of First American Financial in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $70.88.

The business’s 50-day moving average price is $59.32 and its two-hundred day moving average price is $67.68. The company has a market capitalization of $5.31 billion, a P/E ratio of 5.30 and a beta of 1.21.

First American Financial (NYSE:FAFGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). First American Financial had a net margin of 11.98% and a return on equity of 15.61%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, equities analysts predict that First American Financial Co. will post 6.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 8th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Tuesday, June 7th. First American Financial’s payout ratio is 20.54%.

In related news, COO Christopher Michael Leavell sold 39,206 shares of First American Financial stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $59.61, for a total transaction of $2,337,069.66. Following the completion of the sale, the chief operating officer now owns 166,465 shares of the company’s stock, valued at approximately $9,922,978.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in First American Financial by 33.2% in the 4th quarter. Lazard Asset Management LLC now owns 530 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 132 shares during the period. Pacer Advisors Inc. raised its position in shares of First American Financial by 1.2% in the 4th quarter. Pacer Advisors Inc. now owns 11,442 shares of the insurance provider’s stock valued at $895,000 after buying an additional 138 shares in the last quarter. Synovus Financial Corp raised its position in shares of 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 buying an additional 142 shares in the last quarter. Donald L. Hagan LLC raised its position in shares of First American Financial by 1.4% in the 4th quarter. Donald L. Hagan LLC now owns 10,309 shares of the insurance provider’s stock valued at $806,000 after buying an additional 143 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of First American Financial by 1.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,207 shares of the insurance provider’s stock valued at $798,000 after buying an additional 143 shares in the last quarter. 84.95% of the stock is owned by hedge funds and other institutional investors.

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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