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 research note issued on Wednesday. The brokerage currently has a $42.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.33% from the company’s previous close.
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 several other research reports. Piper Jaffray Cos. upped their target price on shares of Fidelity National Financial from $38.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 5th. Keefe, Bruyette & Woods downgraded shares of Fidelity National Financial from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $38.00 to $39.00 in a research note on Monday, July 18th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $48.00 target price on shares of Fidelity National Financial in a research note on Monday, July 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Fidelity National Financial has a consensus rating of “Buy” and a consensus target price of $42.33.
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Shares of Fidelity National Financial (NYSE:FNF) traded up 1.55% during mid-day trading on Wednesday, reaching $37.39. 1,421,662 shares of the company’s stock were exchanged. The stock has a market cap of $10.19 billion, a PE ratio of 19.07 and a beta of 0.82. The company has a 50 day moving average price of $37.19 and a 200-day moving average price of $35.07. Fidelity National Financial has a one year low of $28.24 and a one year high of $38.50.
Fidelity National Financial (NYSE:FNF) last issued its earnings results on Wednesday, July 20th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.08. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fidelity National Financial had a net margin of 6.69% and a return on equity of 9.47%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, analysts predict that Fidelity National Financial will post $2.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.84 annualized dividend and a dividend 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 company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were 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 of the company’s stock, valued at $2,546,536.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cary H. Thompson sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $36.93, for a total transaction of $110,790.00. Following the sale, the director now directly owns 40,694 shares of the company’s stock, valued at $1,502,829.42. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Orbis Allan Gray Ltd acquired a new stake in shares of Fidelity National Financial during the first quarter worth approximately $108,341,000. Roystone Capital Management LP acquired a new stake in shares of Fidelity National Financial during the second quarter worth approximately $84,032,000. Cannell Peter B & Co Inc boosted its stake in shares of Fidelity National Financial by 207.6% in the first quarter. Cannell Peter B & Co Inc now owns 1,868,376 shares of the company’s stock worth $63,338,000 after buying an additional 1,260,873 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Fidelity National Financial by 93.5% in the first quarter. Renaissance Technologies LLC now owns 2,123,715 shares of the company’s stock worth $71,994,000 after buying an additional 1,026,100 shares in the last quarter. Finally, Bloom Tree Partners LLC boosted its stake in shares of Fidelity National Financial by 68.7% in the first quarter. Bloom Tree Partners LLC now owns 2,175,501 shares of the company’s stock worth $73,749,000 after buying an additional 886,298 shares in the last quarter. 85.54% of the stock is owned by institutional investors and hedge funds.
About Fidelity National Financial
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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