Fidelity National Financial Inc. (NYSE:FNF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
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. Piper Jaffray Cos. lifted their price target on shares of Fidelity National Financial from $38.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, July 5th. Keefe, Bruyette & Woods cut shares of Fidelity National Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $38.00 to $39.00 in a report on Monday, July 18th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Fidelity National Financial in a report on Monday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Fidelity National Financial presently has an average rating of “Buy” and an average target price of $42.33.
Shares of Fidelity National Financial (NYSE:FNF) traded down 0.30% on Monday, hitting $36.87. The stock had a trading volume of 1,165,635 shares. The firm has a 50-day moving average of $37.23 and a 200 day moving average of $35.22. Fidelity National Financial has a 1-year low of $28.24 and a 1-year high of $38.50. The company has a market capitalization of $10.05 billion, a PE ratio of 18.80 and a beta of 0.82.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fidelity National Financial had a net margin of 6.69% and a return on equity of 9.47%. Fidelity National Financial’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, equities analysts anticipate that Fidelity National Financial will post $2.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.84 dividend on an annualized basis and a yield of 2.28%. Fidelity National Financial’s dividend payout ratio is 42.64%.
In other news, President Michael Joseph Nolan sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $36.83, for a total transaction of $736,600.00. Following the completion of the transaction, the president now directly owns 69,143 shares in the company, valued at approximately $2,546,536.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter T. Sadowski sold 15,809 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $37.55, for a total transaction of $593,627.95. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in Fidelity National Financial by 79.2% in the second quarter. Global X Management Co. LLC now owns 3,419 shares of the company’s stock worth $128,000 after buying an additional 1,511 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in Fidelity National Financial by 156.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,512 shares of the company’s stock worth $132,000 after buying an additional 2,141 shares during the period. FNY Managed Accounts LLC raised its position in Fidelity National Financial by 258.3% in the second quarter. FNY Managed Accounts LLC now owns 4,300 shares of the company’s stock worth $161,000 after buying an additional 3,100 shares during the period. BB&T Securities LLC purchased a new position in Fidelity National Financial during the second quarter worth approximately $200,000. Finally, Capstone Asset Management Co. purchased a new position in Fidelity National Financial during the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 85.54% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fidelity National Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity National Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.