Fidelity National Financial, Inc. (FNF) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
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 research reports about the company. Monness Crespi & Hardt increased their price target on Fidelity National Financial from $42.00 to $45.00 and gave the stock a buy rating in a research note on Monday, May 15th. 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. Finally, Barclays PLC raised 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $46.80.
Fidelity National Financial (NYSE FNF) traded up 0.57% during trading on Wednesday, reaching $48.05. 541,249 shares of the company traded hands. The company’s 50-day moving average is $47.13 and its 200 day moving average is $42.05. Fidelity National Financial has a 12 month low of $31.64 and a 12 month high of $49.37. The company has a market cap of $13.11 billion, a PE ratio of 20.96 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.14 billion. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.74 EPS. On average, analysts anticipate that Fidelity National Financial will post $2.55 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.08%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 43.67%.
In other news, insider Brent B. Bickett sold 58,896 shares of Fidelity National Financial stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the completion of the sale, the insider now owns 562,658 shares in the company, valued at approximately $25,190,198.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $47.53, for a total value of $6,331,708.95. Following the sale, the executive vice president now owns 89,575 shares of the company’s stock, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,859 shares of company stock valued at $12,482,636. Corporate insiders own 5.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. purchased a new position in shares of Fidelity National Financial during the second quarter worth $137,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fidelity National Financial by 3,739.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,417 shares of the financial services provider’s stock worth $153,000 after buying an additional 3,328 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Fidelity National Financial by 3.9% in 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 buying an additional 131 shares in the last quarter. FTB Advisors Inc. boosted its position in shares of Fidelity National Financial by 234.3% in the first quarter. FTB Advisors Inc. now owns 3,891 shares of the financial services provider’s stock worth $159,000 after buying an additional 2,727 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in shares of Fidelity National Financial during the first quarter worth $204,000. 86.92% of the stock is currently owned by institutional investors.
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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