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 research note issued on Thursday. The firm currently has a $53.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.07% 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. “
FNF has been the topic of a number of other research reports. ValuEngine upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Barclays PLC raised their target price 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. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $48.00 target price on shares of Fidelity National Financial in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Fidelity National Financial has an average rating of “Buy” and an average target price of $46.60.
Fidelity National Financial (FNF) traded down 0.61% on Thursday, reaching $47.29. The company’s stock had a trading volume of 528,087 shares. Fidelity National Financial has a 12 month low of $31.64 and a 12 month high of $49.37. The firm’s 50 day moving average is $47.70 and its 200-day moving average is $42.95. The firm has a market cap of $12.90 billion, a P/E ratio of 20.62 and a beta of 0.96.
Fidelity National Financial (NYSE:FNF) last issued its earnings results 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 10.41%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Fidelity National Financial will post $2.55 EPS for the current year.
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In other news, insider Brent B. Bickett sold 58,896 shares of Fidelity National Financial 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 in the company, valued at $25,190,198.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction 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 transaction, the executive vice president now owns 89,575 shares in the company, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Fiduciary Trust Co. acquired a new position in shares of Fidelity National Financial during the second quarter worth $137,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Fidelity National Financial by 3,739.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,417 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 3,328 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Fidelity National Financial by 3.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,467 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 131 shares during the period. Atria Investments LLC acquired a new position in shares of Fidelity National Financial during the second quarter worth $205,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Fidelity National Financial during the second quarter worth $210,000. Institutional investors own 84.89% of the company’s stock.
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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