Fidelity National Financial Inc. (FNF) Shares Gap Up to $37.51
Fidelity National Financial Inc. (NYSE:FNF) shares gapped up before the market opened on Friday . The stock had previously closed at $37.39, but opened at $37.51. Fidelity National Financial shares last traded at $38.18, with a volume of 725,121 shares.
Several research analysts recently commented on the company. Zacks Investment Research raised Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Monday, July 4th. Keefe, Bruyette & Woods cut Fidelity National Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $38.00 to $39.00 in a research note on Monday, July 18th. Finally, Piper Jaffray Cos. boosted their target price on Fidelity National Financial from $38.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $40.83.
The firm has a market capitalization of $10.51 billion and a price-to-earnings ratio of 18.86. The stock has a 50-day moving average of $36.06 and a 200-day moving average of $33.54.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.08. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.08 billion. Fidelity National Financial’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. Equities analysts predict that Fidelity National Financial Inc. will post $2.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.20%.
In related news, Director William P. Foley II sold 461,474 shares of the stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $34.90, for a total value of $16,105,442.60. Following the transaction, the director now directly owns 3,692,310 shares of the company’s stock, valued at approximately $128,861,619. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony Park sold 34,542 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $35.66, for a total value of $1,231,767.72. Following the completion of the transaction, the chief financial officer now directly owns 212,300 shares in the company, valued at $7,570,618. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently modified their holdings of FNF. Principal Financial Group Inc. raised its position in shares of Fidelity National Financial by 13.0% in the fourth quarter. Principal Financial Group Inc. now owns 8,250,117 shares of the company’s stock valued at $286,031,000 after buying an additional 947,650 shares during the period. Wells Fargo & Company MN raised its position in shares of Fidelity National Financial by 29.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,855,319 shares of the company’s stock valued at $64,325,000 after buying an additional 417,640 shares during the period. Vanguard Group Inc. raised its position in shares of Fidelity National Financial by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 15,385,411 shares of the company’s stock valued at $533,412,000 after buying an additional 364,541 shares during the period. Morgan Stanley raised its position in shares of Fidelity National Financial by 2.7% in the fourth quarter. Morgan Stanley now owns 1,856,847 shares of the company’s stock valued at $64,377,000 after buying an additional 48,002 shares during the period. Finally, Schroder Investment Management Group purchased a new position in shares of Fidelity National Financial during the fourth quarter valued at $1,334,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.