Fidelity National Financial, Inc. (FNF) Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a research report sent to investors on Tuesday 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. “
Other equities analysts also recently issued reports about the stock. Piper Jaffray Companies reiterated 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 target price 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, ValuEngine upgraded shares of Fidelity National Financial from a hold rating to a buy rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $46.60.
Shares of Fidelity National Financial (NYSE FNF) opened at 48.43 on Tuesday. The stock has a market capitalization of $13.21 billion, a P/E ratio of 21.12 and a beta of 0.96. The stock has a 50 day moving average of $47.70 and a 200-day moving average of $43.24. Fidelity National Financial has a 52-week low of $31.64 and a 52-week high of $49.37.
Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.14 billion. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. Analysts predict that Fidelity National Financial will post $2.55 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Fidelity National Financial’s dividend payout ratio is presently 43.67%.
In other news, insider Brent B. Bickett sold 58,896 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the sale, the insider now owns 562,658 shares in the company, valued at $25,190,198.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brent B. Bickett sold 80,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $48.21, for a total value of $3,856,800.00. Following the sale, the insider now owns 584,367 shares in the company, valued at approximately $28,172,333.07. The disclosure for this sale can be found here. Insiders sold 272,111 shares of company stock valued at $12,825,283 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Fiduciary Trust Co. purchased a new stake in shares of Fidelity National Financial during the second quarter worth about $137,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Fidelity National Financial by 3,739.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,417 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 3,328 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of Fidelity National Financial by 3.9% during 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 acquiring an additional 131 shares during the last quarter. Atria Investments LLC purchased a new stake in shares of Fidelity National Financial during the second quarter worth about $205,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Fidelity National Financial during the second quarter worth about $210,000. Institutional investors and hedge funds own 82.09% of the company’s stock.
About Fidelity National Financial
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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