Fidelity National Financial Inc. (FNF) Shares Down 2.1%
Shares of Fidelity National Financial Inc. (NYSE:FNF) dropped 2.1% during trading on Wednesday . The stock traded as low as $36.06 and last traded at $36.76, with a volume of 1,093,894 shares traded. The stock had previously closed at $37.56.
FNF has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Monday, July 25th. Keefe, Bruyette & Woods downgraded shares of Fidelity National Financial from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $38.00 to $39.00 in a research report on Monday, July 18th. Barclays PLC reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Fidelity National Financial in a research report on Monday, July 25th. Finally, Piper Jaffray Cos. raised their price objective on shares of Fidelity National Financial from $38.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Fidelity National Financial presently has a consensus rating of “Buy” and a consensus target price of $42.50.
The firm has a market capitalization of $9.93 billion and a price-to-earnings ratio of 18.61. The stock’s 50 day moving average is $36.65 and its 200-day moving average is $33.85.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. During the same quarter in the previous year, the firm posted $0.65 EPS. The company earned $2.10 billion during the quarter, compared to the consensus estimate of $2.08 billion. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts forecast that Fidelity National Financial Inc. will post $2.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.29%.
In other Fidelity National Financial news, President Michael Joseph Nolan sold 9,978 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $11.34, for a total value of $113,150.52. Following the completion of the sale, the president now owns 280 shares in the company, valued at $3,175.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raymond R. Quirk sold 64,165 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $35.01, for a total value of $2,246,416.65. Following the completion of the sale, the chief executive officer now owns 405,357 shares of the company’s stock, valued at approximately $14,191,548.57. The disclosure for this sale can be found here.
A number of hedge funds recently made changes to their positions in the stock. Morgan Stanley increased its stake 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 last quarter. GAM Holding AG increased its position in shares of Fidelity National Financial by 2.7% in the fourth quarter. GAM Holding AG now owns 51,377 shares of the company’s stock worth $1,781,000 after buying an additional 1,359 shares in the last quarter. Wells Fargo & Company MN increased 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 worth $64,325,000 after buying an additional 417,640 shares in the last quarter. Vanguard Group Inc. increased 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 worth $533,412,000 after buying an additional 364,541 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of Fidelity National Financial during the fourth quarter worth approximately $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.
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