Zacks Investment Research upgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a hold rating to a buy rating in a research note released on Wednesday. The brokerage currently has $52.00 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. “
A number of other brokerages have also weighed in on FNF. Piper Jaffray Companies reiterated a buy rating and set a $48.00 price objective on shares of Fidelity National Financial in a report on Friday, July 14th. ValuEngine upgraded shares of Fidelity National Financial from a hold rating to a buy rating in a report on Friday, September 1st. Barclays PLC lifted their price objective on shares of Fidelity National Financial from $48.00 to $49.00 and gave the company an overweight rating in a report on Monday, July 3rd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Fidelity National Financial from $42.00 to $45.00 and gave the company a buy rating in a report on Monday, May 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Fidelity National Financial has an average rating of Buy and a consensus price target of $46.40.
Fidelity National Financial (NYSE FNF) traded up 3.09% during trading on Wednesday, reaching $47.03. 787,182 shares of the company were exchanged. The stock has a market capitalization of $12.83 billion, a P/E ratio of 20.51 and a beta of 0.96. The company’s 50-day moving average price is $47.65 and its 200-day moving average price is $42.68. Fidelity National Financial has a 1-year low of $31.64 and a 1-year high of $49.37.
Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.41%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Fidelity National Financial will post $2.55 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.13%. Fidelity National Financial’s dividend payout ratio is currently 43.67%.
In related news, EVP Peter T. Sadowski sold 133,215 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the completion of the transaction, the executive vice president now owns 89,575 shares in the company, valued at approximately $4,257,499.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brent B. Bickett sold 58,896 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the transaction, the insider now owns 562,658 shares of the company’s stock, valued at approximately $25,190,198.66. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FNF. Capstone Asset Management Co. bought a new position in shares of Fidelity National Financial during the 1st quarter worth approximately $251,000. Profund Advisors LLC bought a new position in shares of Fidelity National Financial during the 1st quarter worth approximately $212,000. ProShare Advisors LLC raised its stake in shares of Fidelity National Financial by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 39,718 shares of the financial services provider’s stock worth $1,547,000 after acquiring an additional 2,787 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Fidelity National Financial during the 1st quarter worth approximately $209,000. Finally, Strs Ohio raised its stake in shares of Fidelity National Financial by 5.5% during the 1st quarter. Strs Ohio now owns 42,377 shares of the financial services provider’s stock worth $1,650,000 after acquiring an additional 2,212 shares in the last quarter. Hedge funds and other institutional investors own 84.89% 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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