First American Financial (NYSE:FAF) Downgraded by ValuEngine to “Sell”

ValuEngine lowered shares of First American Financial (NYSE:FAF) from a hold rating to a sell rating in a research report released on Saturday, ValuEngine reports.

FAF has been the subject of a number of other reports. Susquehanna Bancshares initiated coverage on shares of First American Financial in a report on Wednesday, June 19th. They issued a positive rating and a $73.00 price objective for the company. Barclays set a $68.00 target price on shares of First American Financial and gave the company a buy rating in a research note on Friday, July 26th. Compass Point set a $60.00 target price on shares of First American Financial and gave the company a hold rating in a research note on Friday, July 26th. Finally, Piper Jaffray Companies set a $68.00 target price on shares of First American Financial and gave the company a buy rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $66.00.

Shares of NYSE FAF opened at $57.76 on Friday. First American Financial has a twelve month low of $41.96 and a twelve month high of $60.48. The firm has a market cap of $6.50 billion, a P/E ratio of 12.61, a PEG ratio of 1.06 and a beta of 0.90. The company has a 50 day moving average of $57.89 and a 200 day moving average of $54.80.

First American Financial (NYSE:FAF) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.23. First American Financial had a net margin of 9.36% and a return on equity of 14.77%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $1.37 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts predict that First American Financial will post 4.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.68 dividend on an annualized basis and a yield of 2.91%. First American Financial’s dividend payout ratio is presently 36.68%.

In other First American Financial news, COO Christopher Michael Leavell sold 10,006 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $57.99, for a total transaction of $580,247.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its stake in First American Financial by 0.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 55,373 shares of the insurance provider’s stock valued at $2,974,000 after buying an additional 190 shares during the last quarter. Signaturefd LLC grew its position in shares of First American Financial by 22.5% during the 2nd quarter. Signaturefd LLC now owns 1,136 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 209 shares during the period. Municipal Employees Retirement System of Michigan grew its position in shares of First American Financial by 1.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,610 shares of the insurance provider’s stock valued at $1,107,000 after acquiring an additional 230 shares during the period. Anderson Fisher LLC grew its position in shares of First American Financial by 0.6% during the 1st quarter. Anderson Fisher LLC now owns 47,865 shares of the insurance provider’s stock valued at $2,465,000 after acquiring an additional 297 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of First American Financial by 1.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 21,814 shares of the insurance provider’s stock valued at $1,170,000 after acquiring an additional 304 shares during the period. Institutional investors and hedge funds own 82.99% 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 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.

Further Reading: Short Selling – Explanation For Shorting Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for First American Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First American Financial and related companies with MarketBeat.com's FREE daily email newsletter.