First American Financial Co. (NYSE:FAF – Get Free Report) declared a quarterly dividend on Tuesday, January 30th, Zacks reports. Shareholders of record on Friday, March 8th will be paid a dividend of 0.53 per share by the insurance provider on Friday, March 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Thursday, March 7th.
First American Financial has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. First American Financial has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First American Financial to earn $5.17 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 41.0%.
First American Financial Stock Down 1.5 %
FAF opened at $60.35 on Thursday. First American Financial has a 52-week low of $49.55 and a 52-week high of $65.54. The company has a market cap of $6.23 billion, a P/E ratio of 26.59 and a beta of 1.31. The firm’s 50-day moving average price is $61.83 and its 200-day moving average price is $59.15.
Insider Activity at First American Financial
Institutional Investors Weigh In On First American Financial
Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in First American Financial in the 2nd quarter worth approximately $36,000. PCA Investment Advisory Services Inc. purchased a new stake in First American Financial in the 2nd quarter worth approximately $41,000. Brown Brothers Harriman & Co. purchased a new stake in First American Financial in the 1st quarter worth approximately $46,000. Industrial Alliance Investment Management Inc. boosted its position in First American Financial by 161.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 925 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 571 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in First American Financial in the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of First American Financial from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, December 13th. Stephens restated an “overweight” rating and set a $72.00 price objective on shares of First American Financial in a report on Wednesday, October 11th. StockNews.com downgraded shares of First American Financial from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Barclays assumed coverage on shares of First American Financial in a report on Wednesday, November 15th. They set an “equal weight” rating and a $53.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First American Financial in a report on Wednesday, January 10th. They set a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.00.
About First American Financial
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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