Zacks Investment Research Lowers Fidelity National Financial, Inc. (FNF) to Hold
Zacks Investment Research downgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a report released on Wednesday.
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. “
FNF has been the subject of a number of other research reports. Monness Crespi & Hardt upped their price target on Fidelity National Financial from $42.00 to $45.00 and gave the stock a buy rating in a research report on Monday, May 15th. Barclays PLC upped their price objective on Fidelity National Financial from $48.00 to $49.00 and gave the stock an overweight rating in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $48.00 price objective on shares of Fidelity National Financial in a research note on Friday, July 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $46.80.
Fidelity National Financial (NYSE:FNF) traded up 0.57% during midday trading on Wednesday, reaching $48.05. 541,249 shares of the company traded hands. Fidelity National Financial has a one year low of $31.64 and a one year high of $49.37. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 20.96 and a beta of 0.95. The firm has a 50-day moving average price of $47.13 and a 200-day moving average price of $42.05.
Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. Equities analysts predict that Fidelity National Financial will post $2.55 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 14th. Fidelity National Financial’s dividend payout ratio (DPR) is 43.67%.
In other news, EVP Peter T. Sadowski sold 133,215 shares of the company’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 owns 89,575 shares of the company’s stock, valued at $4,257,499.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Michael Joseph Nolan sold 80,748 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $43.52, for a total value of $3,514,152.96. Following the completion of the transaction, the president now directly owns 176,062 shares of the company’s stock, valued at approximately $7,662,218.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,859 shares of company stock valued at $12,482,636. Corporate insiders own 5.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in Fidelity National Financial during the second quarter worth $277,000. Raymond James Financial Services Advisors Inc. raised its position in Fidelity National Financial by 45.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,619 shares of the financial services provider’s stock worth $566,000 after buying an additional 3,915 shares during the period. The Manufacturers Life Insurance Company raised its position in Fidelity National Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 10,029 shares of the financial services provider’s stock worth $450,000 after buying an additional 760 shares during the period. PointState Capital LP acquired a new position in Fidelity National Financial during the second quarter worth $33,981,000. Finally, Janus Henderson Group PLC raised its position in Fidelity National Financial by 265.3% in the second quarter. Janus Henderson Group PLC now owns 112,859 shares of the financial services provider’s stock worth $5,059,000 after buying an additional 81,963 shares during the period. 86.92% 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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