Fidelity National Financial, Inc. (FNF) Upgraded 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 research note issued to investors on Wednesday. The brokerage presently has a $52.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.61% from the stock’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. “
FNF has been the topic of a number of other reports. Monness Crespi & Hardt lifted their target price 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 lifted their target price on Fidelity National Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. ValuEngine raised Fidelity National Financial from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $48.00 target price on shares of Fidelity National Financial in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Fidelity National Financial has an average rating of “Buy” and a consensus target price of $46.40.
Shares of Fidelity National Financial (NYSE FNF) traded down 1.38% during midday trading on Wednesday, hitting $45.77. The stock had a trading volume of 1,199,464 shares. The firm has a 50-day moving average price of $47.63 and a 200-day moving average price of $42.63. Fidelity National Financial has a 1-year low of $31.64 and a 1-year high of $49.37. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 19.96 and a beta of 0.96.
Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Fidelity National Financial will post $2.55 EPS for the current fiscal year.
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In other Fidelity National Financial news, EVP Peter T. Sadowski sold 133,215 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the completion of the transaction, the executive vice president now owns 89,575 shares in the company, valued at $4,257,499.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brent B. Bickett sold 58,896 shares of Fidelity National Financial stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the completion of the transaction, the insider now owns 562,658 shares of the company’s stock, valued at approximately $25,190,198.66. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of FNF. Capstone Asset Management Co. bought a new position in shares of Fidelity National Financial in the first quarter valued at approximately $251,000. Profund Advisors LLC bought a new position in shares of Fidelity National Financial in the first quarter valued at approximately $212,000. ProShare Advisors LLC raised its stake in shares of Fidelity National Financial by 7.5% in the first quarter. ProShare Advisors LLC now owns 39,718 shares of the financial services provider’s stock valued at $1,547,000 after acquiring an additional 2,787 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Fidelity National Financial in the first quarter valued at approximately $209,000. Finally, Strs Ohio raised its stake in shares of Fidelity National Financial by 5.5% in the first quarter. Strs Ohio now owns 42,377 shares of the financial services provider’s stock valued at $1,650,000 after acquiring an additional 2,212 shares during the last quarter. Institutional investors own 84.89% 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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