Fidelity National Financial, Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, September 14th. The brokerage presently has a $53.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.67% from the company’s current price.
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 subject of several other research reports. ValuEngine upgraded Fidelity National Financial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Barclays PLC upped their price objective on Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $48.00 price objective on shares of Fidelity National Financial in a report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Fidelity National Financial has a consensus rating of “Buy” and a consensus target price of $46.60.
Fidelity National Financial (NYSE FNF) traded up 0.89% during mid-day trading on Thursday, hitting $47.46. 1,479,518 shares of the stock were exchanged. Fidelity National Financial has a 12-month low of $31.64 and a 12-month high of $49.37. The company has a 50 day moving average of $47.70 and a 200 day moving average of $43.24. The firm has a market cap of $12.95 billion, a P/E ratio of 20.70 and a beta of 0.96.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, equities analysts anticipate that Fidelity National Financial will post $2.55 earnings per share for the current fiscal year.
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In other Fidelity National Financial news, Director Janet Kerr sold 786 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $48.41, for a total value of $38,050.26. Following the transaction, the director now owns 11,817 shares in the company, valued at $572,060.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of the business’s 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 completion of the transaction, the executive vice president now owns 89,575 shares in the company, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. Insiders have sold 214,001 shares of company stock worth $10,226,559 over the last three months. 5.00% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FNF. Fiduciary Trust Co. bought a new stake in shares of Fidelity National Financial during the 2nd quarter worth about $137,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fidelity National Financial by 3,739.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,417 shares of the financial services provider’s stock worth $153,000 after acquiring an additional 3,328 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Fidelity National Financial by 3.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,467 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 131 shares during the period. King Luther Capital Management Corp bought a new stake in Fidelity National Financial during the 1st quarter valued at approximately $204,000. Finally, Atria Investments LLC bought a new stake in Fidelity National Financial during the 2nd quarter valued at approximately $205,000. Institutional investors own 82.09% 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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