First American Financial Corp (NYSE:FAF) – Equities research analysts at SunTrust Banks lifted their Q1 2018 earnings per share (EPS) estimates for First American Financial in a research note issued on Thursday. SunTrust Banks analyst M. Hughes now anticipates that the insurance provider will post earnings of $0.65 per share for the quarter, up from their prior estimate of $0.63. SunTrust Banks also issued estimates for First American Financial’s Q2 2018 earnings at $1.27 EPS, Q3 2018 earnings at $1.36 EPS, Q4 2018 earnings at $1.16 EPS, FY2018 earnings at $4.43 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $1.36 EPS, Q3 2019 earnings at $1.46 EPS, Q4 2019 earnings at $1.24 EPS and FY2019 earnings at $4.77 EPS.
Several other research analysts also recently commented on the company. Barclays decreased their price objective on First American Financial from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday. ValuEngine raised First American Financial from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stephens raised First American Financial from an “equal” rating to a “weight” rating in a research note on Monday, January 8th. Finally, Zacks Investment Research raised First American Financial from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Thursday, December 28th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. First American Financial has an average rating of “Buy” and an average target price of $57.33.
First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. First American Financial had a return on equity of 13.92% and a net margin of 7.33%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company earned $0.92 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently modified their holdings of FAF. Robeco Institutional Asset Management B.V. raised its stake in First American Financial by 558.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,067,664 shares of the insurance provider’s stock valued at $53,353,000 after purchasing an additional 905,637 shares during the period. Janus Henderson Group PLC bought a new stake in First American Financial during the 2nd quarter valued at approximately $38,231,000. Prudential Financial Inc. raised its stake in First American Financial by 162.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,069,020 shares of the insurance provider’s stock valued at $53,419,000 after purchasing an additional 661,701 shares during the period. APG Asset Management N.V. raised its stake in First American Financial by 287.8% during the 4th quarter. APG Asset Management N.V. now owns 748,900 shares of the insurance provider’s stock valued at $34,950,000 after purchasing an additional 555,800 shares during the period. Finally, Citadel Advisors LLC raised its stake in First American Financial by 306.9% during the 4th quarter. Citadel Advisors LLC now owns 665,344 shares of the insurance provider’s stock valued at $37,286,000 after purchasing an additional 501,818 shares during the period. 84.06% of the stock is currently owned by institutional investors.
In related news, COO Christopher Michael Leavell sold 75,843 shares of First American Financial stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $55.25, for a total transaction of $4,190,325.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Wednesday, March 7th. First American Financial’s dividend payout ratio (DPR) is presently 40.43%.
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First American Financial Company Profile
First American Financial Corporation, through its subsidiaries, is engaged in the business of providing financial services. The Company operates through the title insurance and services segment, and specialty insurance segment. The title insurance and services segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commercial real estate transactions.
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