Zacks Investment Research upgraded shares of Fidelity National Financial, Inc. (NYSE:FNF) from a hold rating to a buy rating in a research note released on Monday, July 24th. Zacks Investment Research currently has $53.00 price objective on the financial services provider’s stock.
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 research analysts have also recently issued reports on FNF. Monness Crespi & Hardt lifted their price objective on shares of Fidelity National Financial from $40.00 to $42.00 and gave the company a buy rating in a research note on Monday, April 10th. 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. 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. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $38.00 target price on shares of Fidelity National Financial in a research report on Wednesday, April 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $46.80.
Fidelity National Financial (NYSE:FNF) last announced 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. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.41%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Equities research analysts expect 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 issued 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 2.11%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 43.67%.
In other Fidelity National Financial news, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 89,575 shares of the company’s stock, valued at $4,257,499.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Michael Joseph Nolan sold 80,748 shares of Fidelity National Financial stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $43.52, for a total transaction of $3,514,152.96. Following the completion of the sale, the president now directly owns 176,062 shares of the company’s stock, valued at $7,662,218.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,859 shares of company stock worth $12,482,636. 5.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lincoln National Corp boosted its position in Fidelity National Financial by 0.6% in the first quarter. Lincoln National Corp now owns 6,951 shares of the financial services provider’s stock valued at $271,000 after buying an additional 39 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in Fidelity National Financial by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 7,143 shares of the financial services provider’s stock worth $320,000 after buying an additional 53 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position 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 last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Fidelity National Financial by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,051 shares of the financial services provider’s stock worth $271,000 after buying an additional 56 shares during the last quarter. Finally, TNB Financial boosted its position in Fidelity National Financial by 1.0% in the second quarter. TNB Financial now owns 5,608 shares of the financial services provider’s stock worth $251,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 86.92% of the company’s stock.
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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