Zacks Investment Research downgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a research report released on Wednesday, May 24th.
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. “
Several other research firms have also recently weighed in on FNF. Monness Crespi & Hardt raised their price target on Fidelity National Financial from $42.00 to $45.00 and gave the company a buy rating in a report on Friday, May 5th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $38.00 price objective on shares of Fidelity National Financial in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $44.40.
Shares of Fidelity National Financial (NYSE FNF) traded up 0.97% on Wednesday, hitting $43.50. The stock had a trading volume of 1,158,521 shares. Fidelity National Financial has a 52 week low of $31.64 and a 52 week high of $43.99. The stock has a market capitalization of $11.84 billion, a P/E ratio of 18.65 and a beta of 0.93. The firm has a 50-day moving average price of $41.84 and a 200-day moving average price of $37.80.
Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Fidelity National Financial had a return on equity of 10.51% and a net margin of 7.34%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. Equities analysts expect that Fidelity National Financial will post $2.52 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Fidelity National Financial’s dividend payout ratio is presently 42.92%.
In related news, EVP Peter T. Sadowski sold 17,288 shares of the business’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $38.75, for a total transaction of $669,910.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Joseph Nolan sold 80,748 shares of the business’s stock in a transaction 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 transaction, the president now owns 176,062 shares in the company, valued at $7,662,218.24. The disclosure for this sale can be found here. Insiders sold a total of 264,074 shares of company stock worth $10,963,053 over the last quarter. Company insiders own 5.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Fidelity National Financial by 0.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 24,371,386 shares of the financial services provider’s stock valued at $899,548,000 after buying an additional 143,780 shares during the period. Vanguard Group Inc. boosted its position in shares of Fidelity National Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 21,623,652 shares of the financial services provider’s stock valued at $842,024,000 after buying an additional 884,191 shares during the period. BlackRock Inc. boosted its position in shares of Fidelity National Financial by 4,066.1% in the first quarter. BlackRock Inc. now owns 14,703,507 shares of the financial services provider’s stock valued at $572,554,000 after buying an additional 14,350,573 shares during the period. Harris Associates L P boosted its position in shares of Fidelity National Financial by 1.4% in the first quarter. Harris Associates L P now owns 13,306,977 shares of the financial services provider’s stock valued at $518,174,000 after buying an additional 181,700 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Fidelity National Financial by 4.6% in the first quarter. Principal Financial Group Inc. now owns 10,770,070 shares of the financial services provider’s stock valued at $419,387,000 after buying an additional 471,866 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.
About Fidelity National Financial
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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