Zacks Investment Research upgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a hold rating to a buy rating in a research note published on Thursday. They currently have $54.00 price target on the financial services provider’s stock.
According to Zacks, “Fidelity National Title Group, Inc. is a leading provider of title insurance, specialty insurance and claims management services. FNT is one of the nation’s largest title insurance companies through its title insurance underwriters. FNT also provides flood insurance, personal lines insurance and home warranty insurance through it specialty insurance business. FNT also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. “
FNF has been the topic of several other reports. Keefe, Bruyette & Woods restated a hold rating and set a $38.00 price target on shares of Fidelity National Financial in a research report on Wednesday, April 19th. Monness Crespi & Hardt raised their price target on Fidelity National Financial from $42.00 to $45.00 and gave the stock a buy rating in a research report on Monday, May 15th. Barclays PLC raised their price target on Fidelity National Financial from $48.00 to $49.00 and gave the stock an overweight rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies restated a buy rating and set a $48.00 price target on shares of Fidelity National Financial in a research report on Friday, July 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $46.80.
Fidelity National Financial (FNF) opened at 47.35 on Thursday. Fidelity National Financial has a 1-year low of $31.64 and a 1-year high of $49.37. The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 20.65 and a beta of 0.95. The company has a 50 day moving average price of $46.75 and a 200-day moving average price of $41.63.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.14 billion. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. On average, analysts forecast that Fidelity National Financial will post $2.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.11%. Fidelity National Financial’s payout ratio is 43.67%.
In other news, President Michael Joseph Nolan sold 80,748 shares of Fidelity National Financial stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $43.52, for a total value of $3,514,152.96. Following the sale, the president now directly owns 176,062 shares in the company, valued at approximately $7,662,218.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $47.53, for a total value of $6,331,708.95. Following the completion of the sale, the executive vice president now owns 89,575 shares in the company, valued at $4,257,499.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,859 shares of company stock worth $12,482,636. 5.00% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Fiduciary Trust Co. acquired a new stake in shares of Fidelity National Financial during the second quarter worth $137,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Fidelity National Financial by 3,739.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,417 shares of the financial services provider’s stock worth $153,000 after buying an additional 3,328 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Fidelity National Financial by 3.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,467 shares of the financial services provider’s stock worth $155,000 after buying an additional 131 shares in the last quarter. FTB Advisors Inc. raised its stake in shares of Fidelity National Financial by 234.3% in the first quarter. FTB Advisors Inc. now owns 3,891 shares of the financial services provider’s stock worth $159,000 after buying an additional 2,727 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of Fidelity National Financial during the first quarter worth $204,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.
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