Fidelity National Financial, Inc. (FNF) Rating Increased to Buy at Zacks Investment Research
Fidelity National Financial, Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $53.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.14% from the company’s current price.
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 also recently issued reports on FNF. Piper Jaffray Companies reissued a “buy” rating and issued a $48.00 price target on shares of Fidelity National Financial in a research note on Friday, July 14th. Barclays PLC lifted their target price on Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Finally, Monness Crespi & Hardt lifted their target price on Fidelity National Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, May 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Fidelity National Financial has a consensus rating of “Buy” and an average target price of $46.60.
Shares of Fidelity National Financial (NYSE:FNF) opened at 48.12 on Thursday. The stock has a 50 day moving average price of $47.56 and a 200 day moving average price of $42.43. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 20.99 and a beta of 0.96. 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 posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company earned $0.74 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Fidelity National Financial will post $2.55 EPS for the current year.
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In related news, insider Brent B. Bickett sold 58,896 shares of the business’s stock in a transaction on 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 sale, the insider now owns 562,658 shares of the company’s stock, valued at $25,190,198.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the completion of the sale, the executive vice president now directly owns 89,575 shares in the company, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Fiduciary Trust Co. purchased a new stake in shares of Fidelity National Financial during the second quarter worth approximately $137,000. Northwestern Mutual Wealth Management Co. raised its stake in Fidelity National Financial by 3,739.3% in 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 in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Fidelity National Financial by 3.9% in 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 in the last quarter. Atria Investments LLC acquired a new stake in Fidelity National Financial during the second quarter worth $205,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Fidelity National Financial during the second quarter worth $210,000. 84.88% 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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