Zacks Investment Research upgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a hold rating to a buy rating in a report published on Monday, July 24th. The brokerage currently has $53.00 price objective 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. “
Several other analysts also recently weighed in on FNF. Monness Crespi & Hardt lifted their target price on shares of Fidelity National Financial from $40.00 to $42.00 and gave the company a buy rating in a report on Monday, April 10th. Piper Jaffray Companies reaffirmed a buy rating and issued a $48.00 target price on shares of Fidelity National Financial in a report on Friday, July 14th. Barclays PLC boosted their price objective on shares of Fidelity National Financial from $48.00 to $49.00 and gave the stock an overweight rating in a report on Monday, July 3rd. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $38.00 price objective on shares of Fidelity National Financial in a report on Wednesday, April 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Fidelity National Financial currently has an average rating of Buy and an average price target of $46.60.
Fidelity National Financial (NYSE FNF) traded down 0.68% on Monday, reaching $47.06. The company’s stock had a trading volume of 1,025,023 shares. Fidelity National Financial has a one year low of $31.64 and a one year high of $49.37. The company has a market capitalization of $12.84 billion, a PE ratio of 20.52 and a beta of 0.95. The firm has a 50-day moving average of $46.31 and a 200-day moving average of $41.16.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.14 billion. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.41%. Fidelity National Financial’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. Analysts predict that Fidelity National Financial will post $2.55 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, September 14th. Fidelity National Financial’s dividend payout ratio is presently 43.67%.
In other news, President Michael Joseph Nolan sold 80,748 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $43.52, for a total value of $3,514,152.96. Following the completion of the transaction, the president now directly owns 176,062 shares in the company, valued at $7,662,218.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Park sold 138,941 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $41.28, for a total transaction of $5,735,484.48. Following the completion of the transaction, the chief financial officer now owns 228,280 shares of the company’s stock, valued at $9,423,398.40. The disclosure for this sale can be found here. Insiders have sold 411,800 shares of company stock valued at $18,218,120 in the last ninety days. 5.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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. boosted its stake in 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 during the period. Bronfman E.L. Rothschild L.P. boosted its stake in 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 during the period. FTB Advisors Inc. boosted its stake in 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 during the period. Finally, Atria Investments LLC purchased a new stake in Fidelity National Financial during the second quarter worth $205,000. Hedge funds and other institutional investors own 83.22% 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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