Zacks Investment Research cut shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a research report report published on Wednesday morning.
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 research reports. Monness Crespi & Hardt upped their price objective on Fidelity National Financial from $42.00 to $45.00 and gave the stock a buy rating in a research report on Friday, May 5th. Barclays PLC upped their price objective 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 issued a $48.00 price objective on shares of Fidelity National Financial in a research report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $46.80.
Fidelity National Financial (NYSE:FNF) traded down 0.2265% on Wednesday, reaching $47.7915. 105,025 shares of the company’s stock were exchanged. Fidelity National Financial has a 52-week low of $31.64 and a 52-week high of $49.37. The firm’s 50 day moving average price is $46.94 and its 200 day moving average price is $41.93. The company has a market cap of $13.04 billion, a PE ratio of 20.8423 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the company earned $0.74 EPS. Fidelity National Financial’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Fidelity National Financial will post $2.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.09%. Fidelity National Financial’s dividend payout ratio is presently 43.67%.
In other Fidelity National Financial news, EVP Peter T. Sadowski sold 133,215 shares of the company’s 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 sale, 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 legal filing with the SEC, which is available at the SEC website. Also, President Michael Joseph Nolan sold 80,748 shares of the company’s 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 completion of the sale, the president now owns 176,062 shares in the company, valued at approximately $7,662,218.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,859 shares of company stock worth $12,482,636. Insiders own 5.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in Fidelity National Financial by 6.0% in the first quarter. Bank of Montreal Can now owns 113,852 shares of the financial services provider’s stock valued at $4,433,000 after buying an additional 6,492 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Fidelity National Financial by 38.8% in the first quarter. Goldman Sachs Group Inc. now owns 844,881 shares of the financial services provider’s stock worth $32,899,000 after buying an additional 236,376 shares during the period. Bank of America Corp DE raised its position in shares of Fidelity National Financial by 2.9% in the first quarter. Bank of America Corp DE now owns 1,066,963 shares of the financial services provider’s stock worth $41,548,000 after buying an additional 30,086 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Fidelity National Financial by 4.9% in the first quarter. BNP Paribas Arbitrage SA now owns 53,703 shares of the financial services provider’s stock worth $2,091,000 after buying an additional 2,496 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in shares of Fidelity National Financial by 0.4% in the first quarter. First Citizens Bank & Trust Co. now owns 13,894 shares of the financial services provider’s stock worth $541,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds 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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