Fidelity National Financial, Inc. (FNF) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $53.00 price target on the financial services provider’s stock.
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 equities analysts also recently issued reports on the company. Piper Jaffray Companies reiterated a buy rating and issued a $48.00 price objective on shares of Fidelity National Financial in a research report on Friday, July 14th. Barclays PLC boosted their target price 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, ValuEngine upgraded Fidelity National Financial from a hold rating to a buy rating in a research report on Friday, September 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $46.60.
Fidelity National Financial (NYSE FNF) opened at 47.99 on Thursday. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 20.93 and a beta of 0.96. The stock’s 50 day moving average price is $47.72 and its 200-day moving average price is $43.03. Fidelity National Financial has a one year low of $31.64 and a one 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Fidelity National Financial will post $2.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 43.67%.
In other Fidelity National Financial news, EVP Peter T. Sadowski sold 133,215 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 89,575 shares of the company’s stock, valued at $4,257,499.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brent B. Bickett sold 58,896 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $44.77, for a total value of $2,636,773.92. Following the completion of the transaction, the insider now directly owns 562,658 shares of the company’s stock, valued at $25,190,198.66. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Fiduciary Trust Co. acquired a new position in Fidelity National Financial in the second quarter valued at about $137,000. Northwestern Mutual Wealth Management Co. boosted its position 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 buying an additional 3,328 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position 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 buying an additional 131 shares during the period. Atria Investments LLC acquired a new position in shares of Fidelity National Financial during the second quarter worth about $205,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Fidelity National Financial during the second quarter worth about $210,000. 84.89% of the stock is owned by hedge funds and other institutional investors.
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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