Fidelity National Financial, Inc. (FNF) Lifted 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 Monday. The brokerage presently has a $53.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.36% 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. “
Other research analysts have also issued reports about the stock. Monness Crespi & Hardt lifted their price objective on shares of Fidelity National Financial from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 10th. Piper Jaffray Companies reiterated a “buy” rating and issued a $48.00 price objective on shares of Fidelity National Financial in a research note on Friday, July 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.00 price target on shares of Fidelity National Financial in a research report on Wednesday, April 19th. Finally, Barclays PLC boosted their price target on shares of Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Fidelity National Financial has an average rating of “Buy” and a consensus target price of $46.60.
Shares of Fidelity National Financial (NYSE:FNF) traded down 0.84% during trading on Monday, reaching $47.17. The company’s stock had a trading volume of 1,457,993 shares. Fidelity National Financial has a 12 month low of $31.64 and a 12 month high of $47.71. The stock’s 50 day moving average price is $44.18 and its 200-day moving average price is $39.66. The firm has a market cap of $12.78 billion, a PE ratio of 20.57 and a beta of 0.93.
Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.76%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $0.74 EPS. Fidelity National Financial’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Fidelity National Financial will post $2.54 EPS for the current year.
In other news, President Michael Joseph Nolan sold 80,748 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $43.52, for a total transaction of $3,514,152.96. Following the completion of the transaction, the president now directly owns 176,062 shares in the company, valued at approximately $7,662,218.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $2,636,773.92. Following the transaction, 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. Insiders have sold a total of 278,585 shares of company stock valued at $11,886,411 over the last 90 days. Company insiders own 5.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNF. Wallington Asset Management LLC raised its position in Fidelity National Financial by 0.9% in the second quarter. Wallington Asset Management LLC now owns 142,580 shares of the financial services provider’s stock worth $6,392,000 after buying an additional 1,270 shares during the period. Gilbert & Cook Inc. purchased a new position in Fidelity National Financial during the second quarter worth approximately $217,000. Aperio Group LLC raised its position in Fidelity National Financial by 9.2% in the second quarter. Aperio Group LLC now owns 55,139 shares of the financial services provider’s stock worth $2,472,000 after buying an additional 4,659 shares during the period. TNB Financial raised its position in Fidelity National Financial by 1.0% in the second quarter. TNB Financial now owns 5,608 shares of the financial services provider’s stock worth $251,000 after buying an additional 58 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in Fidelity National Financial by 543.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 41,984 shares of the financial services provider’s stock worth $1,882,000 after buying an additional 35,457 shares during the period. Hedge funds and other institutional investors own 84.25% 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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