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 report released on Thursday. The brokerage currently has a $54.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.49% 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. “
A number of other brokerages also recently weighed in on FNF. Piper Jaffray Companies restated a “buy” rating and issued a $48.00 target price on shares of Fidelity National Financial in a research note on Friday, July 14th. Barclays PLC boosted their target price on Fidelity National Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Monness Crespi & Hardt boosted their target price on Fidelity National Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 target price on shares of Fidelity National Financial in a research note on Wednesday, April 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $46.80.
Shares of Fidelity National Financial (NYSE:FNF) traded down 1.73% during midday trading on Thursday, reaching $47.58. The company’s stock had a trading volume of 723,583 shares. Fidelity National Financial has a 12 month low of $31.64 and a 12 month high of $49.37. The stock has a 50-day moving average of $46.67 and a 200 day moving average of $41.54. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 20.75 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Fidelity National Financial will post $2.55 earnings per share for the current fiscal year.
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In related news, 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 value of $2,636,773.92. Following the sale, the insider now owns 562,658 shares of the company’s stock, valued at approximately $25,190,198.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $47.53, for a total transaction 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 approximately $4,257,499.75. The disclosure for this sale can be found here. Insiders sold a total of 411,800 shares of company stock worth $18,218,120 in the last ninety days. 5.00% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. First Citizens Bank & Trust Co. boosted its stake in Fidelity National Financial by 0.4% in the first quarter. First Citizens Bank & Trust Co. now owns 13,894 shares of the financial services provider’s stock worth $541,000 after buying an additional 55 shares during the period. ProShare Advisors LLC boosted its stake in 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 worth $1,547,000 after buying an additional 2,787 shares during the period. Profund Advisors LLC bought a new stake in Fidelity National Financial during the first quarter worth approximately $212,000. Korea Investment CORP boosted its stake in Fidelity National Financial by 116.7% in the first quarter. Korea Investment CORP now owns 133,700 shares of the financial services provider’s stock worth $5,206,000 after buying an additional 72,000 shares during the period. Finally, Crestwood Advisors Group LLC bought a new stake in Fidelity National Financial during the first quarter worth approximately $18,238,000. 86.92% of the stock is currently owned by institutional investors.
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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