Fidelity National Financial Inc. (FNF) Upgraded by Zacks Investment Research to Hold
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. “
Separately, Monness Crespi & Hardt reduced their target price 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $42.17.
Fidelity National Financial (NYSE:FNF) opened at 32.89 on Monday. The company’s 50-day moving average is $34.86 and its 200-day moving average is $36.00. Fidelity National Financial has a 52-week low of $28.24 and a 52-week high of $38.50. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 16.28 and a beta of 0.92.
Fidelity National Financial (NYSE:FNF) last posted its earnings results 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 return on equity of 13.04% and a net margin of 6.73%. The firm earned $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that Fidelity National Financial will post $2.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a yield of 3.04%. Fidelity National Financial’s dividend payout ratio is 41.58%.
In other Fidelity National Financial news, Director Cary H. Thompson sold 3,838 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $36.85, for a total transaction of $141,430.30. Following the sale, the director now directly owns 44,532 shares of the company’s stock, valued at $1,641,004.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter T. Sadowski sold 34,191 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $37.41, for a total transaction of $1,279,085.31. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Lincoln National Corp boosted its stake in shares of Fidelity National Financial by 0.5% in the third quarter. Lincoln National Corp now owns 6,869 shares of the company’s stock valued at $254,000 after buying an additional 34 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Fidelity National Financial by 1.5% in the third quarter. Assetmark Inc. now owns 2,748 shares of the company’s stock valued at $101,000 after buying an additional 41 shares in the last quarter. Creative Planning boosted its stake in shares of Fidelity National Financial by 0.3% in the second quarter. Creative Planning now owns 14,035 shares of the company’s stock valued at $526,000 after buying an additional 47 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Fidelity National Financial by 0.6% in the second quarter. Stifel Financial Corp now owns 15,826 shares of the company’s stock valued at $594,000 after buying an additional 101 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Fidelity National Financial by 1.3% in the second quarter. CIBC Asset Management Inc now owns 14,437 shares of the company’s stock valued at $541,000 after buying an additional 184 shares in the last quarter. 86.41% 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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