Zacks Investment Research Upgrades Fidelity National Financial, Inc. (FNF) to Buy
Zacks Investment Research upgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $53.00 target price on the financial services provider’s stock.
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 equities research analysts have also recently weighed in on the company. ValuEngine upgraded Fidelity National Financial from a hold rating to a buy rating in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a buy rating and set a $48.00 price target on shares of Fidelity National Financial in a report on Friday, July 14th. Finally, Barclays PLC upped their price target on shares of Fidelity National Financial from $48.00 to $49.00 and gave the stock an overweight rating in a report on Monday, July 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $46.60.
Shares of Fidelity National Financial (NYSE FNF) opened at 47.99 on Thursday. The firm has a market capitalization of $13.09 billion, a PE ratio of 20.93 and a beta of 0.96. The company’s 50-day moving average price is $47.72 and its 200-day moving average price is $43.03. Fidelity National Financial has a 12-month low of $31.64 and a 12-month high of $49.37.
Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, topping the 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 firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Fidelity National Financial will post $2.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Fidelity National Financial’s payout ratio is 43.67%.
In related news, EVP Peter T. Sadowski sold 133,215 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 89,575 shares in the company, valued at $4,257,499.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brent B. Bickett sold 58,896 shares of the 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 completion of the sale, the insider now owns 562,658 shares of the company’s stock, valued at $25,190,198.66. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in Fidelity National Financial during the second quarter valued at $277,000. Raymond James Financial Services Advisors Inc. boosted its position in Fidelity National Financial by 45.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,619 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 3,915 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Fidelity National Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 10,029 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 760 shares during the last quarter. PointState Capital LP bought a new stake in Fidelity National Financial during the second quarter valued at $33,981,000. Finally, Janus Henderson Group PLC boosted its position in Fidelity National Financial by 265.3% during the second quarter. Janus Henderson Group PLC now owns 112,859 shares of the financial services provider’s stock valued at $5,059,000 after acquiring an additional 81,963 shares during the last quarter. 82.09% 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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