Fidelity National Financial Inc. (FNF) Raised 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 research note issued on Wednesday. The brokerage currently has a $42.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.33% 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. “
Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods downgraded Fidelity National Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $38.00 to $39.00 in a research note on Monday, July 18th. Barclays PLC restated an “overweight” rating and set a $48.00 target price on shares of Fidelity National Financial in a research note on Monday, July 25th. Finally, Piper Jaffray Cos. boosted their target price on Fidelity National Financial from $38.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $42.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/fidelity-national-financial-inc-fnf-raised-to-buy-at-zacks-investment-research.html
Fidelity National Financial (NYSE:FNF) traded up 1.55% during mid-day trading on Wednesday, hitting $37.39. The company had a trading volume of 1,421,662 shares. The firm has a market capitalization of $10.19 billion, a P/E ratio of 19.07 and a beta of 0.82. Fidelity National Financial has a 12 month low of $28.24 and a 12 month high of $38.50. The company has a 50-day moving average price of $37.18 and a 200 day moving average price of $35.09.
Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, July 20th. The company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.08. Fidelity National Financial had a return on equity of 9.47% and a net margin of 6.69%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that Fidelity National Financial will post $2.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.25%. Fidelity National Financial’s payout ratio is 42.64%.
In other Fidelity National Financial news, President Michael Joseph Nolan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $36.83, for a total transaction of $736,600.00. Following the completion of the sale, the president now directly owns 69,143 shares in the company, valued at approximately $2,546,536.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel D. Lane sold 13,380 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $36.90, for a total value of $493,722.00. Following the sale, the director now owns 257,176 shares of the company’s stock, valued at $9,489,794.40. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Global X Management Co. LLC raised its stake in Fidelity National Financial by 79.2% in the second quarter. Global X Management Co. LLC now owns 3,419 shares of the company’s stock valued at $128,000 after buying an additional 1,511 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in Fidelity National Financial by 156.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,512 shares of the company’s stock valued at $132,000 after buying an additional 2,141 shares during the period. FNY Managed Accounts LLC raised its stake in Fidelity National Financial by 258.3% in the second quarter. FNY Managed Accounts LLC now owns 4,300 shares of the company’s stock valued at $161,000 after buying an additional 3,100 shares during the period. BB&T Securities LLC purchased a new stake in Fidelity National Financial during the second quarter valued at approximately $200,000. Finally, Capstone Asset Management Co. purchased a new stake in Fidelity National Financial during the second quarter valued at approximately $204,000. Institutional investors own 85.54% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fidelity National Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity National Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.