Zacks Investment Research Upgrades Fidelity National Financial Inc. (FNF) to Hold
Fidelity National Financial Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Other analysts have also recently issued research reports about the company. Barclays PLC restated an “overweight” rating and issued a $48.00 price target on shares of Fidelity National Financial in a report on Monday, July 25th. Monness Crespi & Hardt lowered their price target on Fidelity National Financial from $41.00 to $40.00 and set a “buy” rating for the company in a report on Friday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.17.
Fidelity National Financial (NYSE:FNF) traded up 0.57% during mid-day trading on Tuesday, hitting $33.30. 2,477,713 shares of the company were exchanged. Fidelity National Financial has a 12 month low of $28.24 and a 12 month high of $38.50. The firm has a 50 day moving average price of $35.21 and a 200 day moving average price of $35.99. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 16.49 and a beta of 0.92.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by $0.05. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Fidelity National Financial had a return on equity of 13.04% and a net margin of 6.73%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. Analysts anticipate that Fidelity National Financial will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be paid a $0.25 dividend. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 3.00%. Fidelity National Financial’s payout ratio is currently 41.58%.
In other news, EVP Peter T. Sadowski sold 34,191 shares of Fidelity National Financial stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $37.41, for a total value of $1,279,085.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Cary H. Thompson sold 3,838 shares of Fidelity National Financial stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $36.85, for a total value of $141,430.30. Following the completion of the transaction, the director now directly owns 44,532 shares in the company, valued at $1,641,004.20. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Fidelity National Financial by 0.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 24,371,386 shares of the company’s stock valued at $899,548,000 after buying an additional 143,780 shares in the last quarter. Vanguard Group Inc. raised its position in Fidelity National Financial by 3.6% in the second quarter. Vanguard Group Inc. now owns 16,507,547 shares of the company’s stock valued at $619,032,000 after buying an additional 574,278 shares during the period. Principal Financial Group Inc. raised its position in Fidelity National Financial by 7.1% in the third quarter. Principal Financial Group Inc. now owns 9,417,446 shares of the company’s stock valued at $347,599,000 after buying an additional 621,908 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Fidelity National Financial by 4.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,030,362 shares of the company’s stock valued at $263,639,000 after buying an additional 319,337 shares during the period. Finally, Edge Asset Management Inc. raised its position in Fidelity National Financial by 7.2% in the second quarter. Edge Asset Management Inc. now owns 5,532,760 shares of the company’s stock valued at $207,479,000 after buying an additional 373,039 shares during the period. 86.75% of the stock is currently owned by institutional investors and hedge funds.
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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