Fidelity National Financial Inc. (FNF) Stock Rating Upgraded by Zacks Investment Research
Fidelity National Financial Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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 recently issued reports on FNF. Keefe, Bruyette & Woods cut shares of Fidelity National Financial from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $38.00 to $39.00 in a research note on Monday, July 18th. Barclays PLC reissued an “overweight” rating and set a $48.00 price objective on shares of Fidelity National Financial in a research note on Monday, July 25th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Fidelity National Financial from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $42.17.
Shares of Fidelity National Financial (NYSE:FNF) opened at 33.51 on Tuesday. The firm has a 50-day moving average price of $35.63 and a 200-day moving average price of $35.96. Fidelity National Financial has a 1-year low of $28.24 and a 1-year high of $38.50. The firm has a market capitalization of $9.11 billion, a PE ratio of 16.59 and a beta of 0.92.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.05. Fidelity National Financial had a net margin of 6.73% and a return on equity of 13.04%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Fidelity National Financial will post $2.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.21. Fidelity National Financial’s dividend payout ratio is 41.58%.
In other Fidelity National Financial news, EVP Peter T. Sadowski sold 34,191 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $37.41, for a total value of $1,279,085.31. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cary H. Thompson sold 3,838 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $36.85, for a total transaction of $141,430.30. Following the completion of the transaction, the director now owns 44,532 shares in the company, valued at approximately $1,641,004.20. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Hahn Capital Management LLC purchased a new position in shares of Fidelity National Financial during the third quarter worth approximately $25,973,000. Credit Suisse AG raised its position in shares of Fidelity National Financial by 9.2% in the third quarter. Credit Suisse AG now owns 627,115 shares of the company’s stock worth $23,146,000 after buying an additional 52,989 shares in the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Fidelity National Financial during the third quarter worth approximately $125,000. Penn Capital Management Co. Inc. purchased a new position in shares of Fidelity National Financial during the third quarter worth approximately $1,072,000. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Fidelity National Financial by 24.7% in the third quarter. Candriam Luxembourg S.C.A. now owns 15,293 shares of the company’s stock worth $564,000 after buying an additional 3,033 shares in the last quarter. Hedge funds and other institutional investors own 86.18% 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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