SunTrust Banks Comments on Fidelity National Financial, Inc.’s Q3 2017 Earnings (FNF)

Fidelity National Financial, Inc. (NYSE:FNF) – Analysts at SunTrust Banks increased their Q3 2017 EPS estimates for Fidelity National Financial in a research note issued to investors on Thursday. SunTrust Banks analyst M. Hughes now expects that the financial services provider will post earnings of $0.73 per share for the quarter, up from their previous forecast of $0.71. SunTrust Banks also issued estimates for Fidelity National Financial’s FY2017 earnings at $2.57 EPS, Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $0.71 EPS.

Other research analysts have also recently issued reports about the company. Piper Jaffray Companies restated a “buy” rating and set a $48.00 target price on shares of Fidelity National Financial in a report on Friday, July 14th. 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 report on Monday, May 15th. Zacks Investment Research upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Monday, May 29th. Finally, 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 report on Monday, July 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $46.60.

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Shares of Fidelity National Financial (FNF) opened at 47.01 on Monday. The firm’s 50-day moving average price is $44.41 and its 200-day moving average price is $39.89. The stock has a market capitalization of $12.74 billion, a P/E ratio of 20.50 and a beta of 0.93. Fidelity National Financial has a 12 month low of $31.64 and a 12 month high of $47.71.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Fidelity National Financial had a return on equity of 10.76% and a net margin of 7.49%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FNF. FTB Advisors Inc. boosted its position in 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. King Luther Capital Management Corp acquired a new position in Fidelity National Financial during the first quarter worth approximately $204,000. Atria Investments LLC acquired a new position in Fidelity National Financial during the second quarter worth approximately $205,000. Janney Montgomery Scott LLC acquired a new position in Fidelity National Financial during the first quarter worth approximately $209,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in shares of Fidelity National Financial during the first quarter worth about $210,000. Hedge funds and other institutional investors own 84.25% of the company’s stock.

In related news, President Michael Joseph Nolan sold 80,748 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $43.52, for a total value of $3,514,152.96. Following the transaction, the president now directly owns 176,062 shares in the company, valued at $7,662,218.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brent B. Bickett sold 58,896 shares of the company’s 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 completion of the transaction, the insider now owns 562,658 shares in the company, valued at $25,190,198.66. The disclosure for this sale can be found here. Insiders sold 278,585 shares of company stock worth $11,886,411 over the last quarter. 5.00% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, September 14th. Fidelity National Financial’s dividend payout ratio is presently 43.67%.

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.

Earnings History and Estimates for Fidelity National Financial (NYSE:FNF)

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