Zacks Investment Research Lowers Fidelity National Financial, Inc. (FNF) to Hold
Zacks Investment Research lowered shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a report published on Wednesday.
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 have also commented on FNF. Monness Crespi & Hardt raised their price objective on shares of Fidelity National Financial from $42.00 to $45.00 and gave the stock a buy rating in a report on Monday, May 15th. Barclays PLC lifted their target price 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. Piper Jaffray Companies reiterated a buy rating and set a $48.00 target price on shares of Fidelity National Financial in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $38.00 target price 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 company’s stock. The company has an average rating of Buy and a consensus price target of $46.80.
Fidelity National Financial (NYSE FNF) opened at 47.35 on Wednesday. The company’s 50-day moving average price is $46.75 and its 200-day moving average price is $41.63. The firm has a market capitalization of $12.92 billion, a P/E ratio of 20.65 and a beta of 0.95. 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 issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 EPS 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 business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business posted $0.74 earnings per share. Fidelity National Financial’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Fidelity National Financial will post $2.55 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.11%. Fidelity National Financial’s payout ratio is 43.67%.
In other news, insider Brent B. Bickett sold 58,896 shares of Fidelity National Financial stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the completion of the transaction, the insider now directly owns 562,658 shares in the company, valued at $25,190,198.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial 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 transaction, the executive vice president now owns 89,575 shares of the company’s stock, valued at $4,257,499.75. The disclosure for this sale can be found here. Insiders have sold 272,859 shares of company stock valued at $12,482,636 over the last quarter. Company insiders own 5.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FNF. Fiduciary Trust Co. acquired a new position in Fidelity National Financial during the second quarter valued at about $137,000. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of 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 last quarter. FTB Advisors Inc. raised its position in shares of 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 last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of Fidelity National Financial during the first quarter worth $204,000. Hedge funds and other institutional investors 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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