First American Financial (NYSE:FAF) Price Target Cut to $63.00

First American Financial (NYSE:FAF) had its price objective decreased by equities researchers at Keefe, Bruyette & Woods from $67.00 to $63.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 18.02% from the stock’s current price.

Several other equities research analysts have also issued reports on FAF. Stephens reaffirmed an “overweight” rating and set a $72.00 price target on shares of First American Financial in a research note on Thursday, April 25th. TheStreet lowered First American Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, March 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, First American Financial presently has an average rating of “Moderate Buy” and an average price target of $66.25.

First American Financial Stock Down 1.1 %

Shares of FAF stock opened at $53.38 on Tuesday. The business has a 50-day moving average price of $54.74 and a two-hundred day moving average price of $57.89. First American Financial has a 12-month low of $49.55 and a 12-month high of $65.54. The firm has a market cap of $5.54 billion, a P/E ratio of 25.54 and a beta of 1.28.

First American Financial (NYSE:FAF) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.22). First American Financial had a return on equity of 8.17% and a net margin of 3.64%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $0.49 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts expect that First American Financial will post 3.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of First American Financial during the 4th quarter valued at $76,210,000. Boston Partners increased its stake in First American Financial by 13.3% in the 1st quarter. Boston Partners now owns 4,074,181 shares of the insurance provider’s stock worth $248,237,000 after buying an additional 479,618 shares in the last quarter. Vanguard Group Inc. increased its stake in First American Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 10,567,038 shares of the insurance provider’s stock worth $645,118,000 after buying an additional 431,089 shares in the last quarter. MKP Capital Management L.L.C. purchased a new stake in First American Financial in the 4th quarter worth $25,776,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in First American Financial by 46.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,229,294 shares of the insurance provider’s stock worth $79,216,000 after buying an additional 387,848 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.