First American Financial Co. (NYSE:FAF – Get Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Shareholders of record on Wednesday, June 8th will be given a dividend of 0.51 per share by the insurance provider on Wednesday, June 15th. This represents a $2.04 annualized dividend and a yield of 3.46%. The ex-dividend date is Tuesday, June 7th.
First American Financial has increased 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 dividend payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. 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%.
FAF stock traded up $0.22 during mid-day trading on Thursday, hitting $58.89. The stock had a trading volume of 27,313 shares, compared to its average volume of 870,556. First American Financial has a 52 week low of $57.36 and a 52 week high of $81.54. The firm has a market capitalization of $6.33 billion, a P/E ratio of 5.90 and a beta of 1.21. The firm has a fifty day simple moving average of $62.98 and a 200 day simple moving average of $70.51.
Several institutional investors have recently added to or reduced their stakes in FAF. Forum Financial Management LP acquired a new position in First American Financial during the fourth quarter worth $205,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of 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 worth $241,000 after acquiring an additional 247 shares in the last quarter. Synovus Financial Corp grew its stake 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 worth $305,000 after acquiring an additional 142 shares in the last quarter. Walleye Trading LLC bought a new stake in shares of First American Financial in the 4th quarter worth $316,000. Finally, JustInvest LLC grew its position in First American Financial by 24.0% during the fourth quarter. JustInvest LLC now owns 5,283 shares of the insurance provider’s stock valued at $413,000 after buying an additional 1,021 shares during the period. Institutional investors own 84.95% of the company’s stock.
FAF has been the topic of several recent analyst reports. Credit Suisse Group lowered shares of First American Financial from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $97.00 to $74.00 in a report on Friday, April 1st. Truist Financial lifted their price target on shares of First American Financial from $84.00 to $92.00 in a report on Thursday, January 13th. StockNews.com started coverage on shares of First American Financial in a report on Thursday, March 31st. They set a “hold” rating on the stock. BTIG Research reduced their target price on shares of First American Financial from $93.00 to $86.00 in a report on Tuesday, April 12th. Finally, Barclays boosted their target price on shares of First American Financial from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $70.57.
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.
- Get a free copy of the StockNews.com research report on First American Financial (FAF)
- Carvana Insiders Buy Shares But Maybe You Shouldn’t
- Dutch Bros Gets Scalded By Inflation
- The S&P 500 Could Fall Another 28%
- Corning Stock is a Technology Value Play
- Wolverine Worldwide Is Ready To Rebound
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.