Piper Jaffray Companies Reiterates Buy Rating for Fidelity National Financial, Inc. (FNF)

Piper Jaffray Companies reiterated their buy rating on shares of Fidelity National Financial, Inc. (NYSE:FNF) in a research note released on Friday, July 14th. The brokerage currently has a $48.00 price objective on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on FNF. Zacks Investment Research upgraded shares of Fidelity National Financial from a sell rating to a hold rating in a report on Wednesday, March 22nd. Monness Crespi & Hardt boosted their target price on shares of Fidelity National Financial from $40.00 to $42.00 and gave the stock a buy rating in a research report on Monday, April 10th. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $38.00 target price on shares of Fidelity National Financial in a research report on Wednesday, April 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Fidelity National Financial presently has a consensus rating of Buy and an average target price of $46.60.

Shares of Fidelity National Financial (NYSE:FNF) opened at 47.06 on Friday. The stock has a market cap of $12.84 billion, a PE ratio of 20.52 and a beta of 0.95. Fidelity National Financial has a 1-year low of $31.64 and a 1-year high of $49.37. The stock has a 50 day moving average of $46.31 and a 200 day moving average of $41.16.

Fidelity National Financial (NYSE:FNF) last released its earnings results 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 net margin of 7.49% and a return on equity of 10.41%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. Fidelity National Financial’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts forecast that Fidelity National Financial will post $2.55 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Fidelity National Financial’s dividend payout ratio (DPR) is 43.67%.

In other news, CFO Anthony Park sold 138,941 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $41.28, for a total transaction of $5,735,484.48. Following the completion of the transaction, the chief financial officer now owns 228,280 shares in the company, valued at $9,423,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter T. Sadowski sold 133,215 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. Insiders have sold 411,800 shares of company stock worth $18,218,120 over the last three months. 5.00% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Fidelity National Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 22,037,492 shares of the financial services provider’s stock worth $987,941,000 after buying an additional 413,840 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Fidelity National Financial by 65.0% in the second quarter. Principal Financial Group Inc. now owns 17,770,127 shares of the financial services provider’s stock worth $796,636,000 after buying an additional 7,000,057 shares in the last quarter. BlackRock Inc. raised its position in shares of Fidelity National Financial by 4,066.1% in the first quarter. BlackRock Inc. now owns 14,703,507 shares of the financial services provider’s stock worth $572,554,000 after buying an additional 14,350,573 shares in the last quarter. Harris Associates L P raised its position in shares of Fidelity National Financial by 1.4% in the first quarter. Harris Associates L P now owns 13,306,977 shares of the financial services provider’s stock worth $518,174,000 after buying an additional 181,700 shares in the last quarter. Finally, Edge Asset Management Inc. raised its position in shares of Fidelity National Financial by 0.8% in the first quarter. Edge Asset Management Inc. now owns 7,519,623 shares of the financial services provider’s stock worth $292,814,000 after buying an additional 59,689 shares in the last quarter. Hedge funds and other institutional investors own 83.22% 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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