Fidelity National Financial Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to 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. “
Separately, Monness Crespi & Hardt decreased their price objective on shares of Fidelity National Financial from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Fidelity National Financial presently has a consensus rating of “Buy” and a consensus price target of $42.17.
Shares of Fidelity National Financial (NYSE:FNF) traded down 1.59% during midday trading on Monday, reaching $32.89. 1,545,572 shares of the company traded hands. The firm has a market capitalization of $8.94 billion, a P/E ratio of 16.28 and a beta of 0.92. The company has a 50 day moving average of $34.86 and a 200 day moving average of $36.00. Fidelity National Financial has a 12 month low of $28.24 and a 12 month high of $38.50.
Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.05. Fidelity National Financial had a return on equity of 13.04% and a net margin of 6.73%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Fidelity National Financial’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Fidelity National Financial will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be paid a $0.25 dividend. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. Fidelity National Financial’s dividend payout ratio is 41.58%.
In other news, EVP Peter T. Sadowski sold 15,809 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $37.55, for a total value of $593,627.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cary H. Thompson sold 3,838 shares of the company’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $36.85, for a total transaction of $141,430.30. Following the completion of the transaction, the director now owns 44,532 shares of the company’s stock, valued at $1,641,004.20. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FNF. Assetmark Inc. boosted its stake in Fidelity National Financial by 1.5% in the third quarter. Assetmark Inc. now owns 2,748 shares of the company’s stock valued at $101,000 after buying an additional 41 shares in the last quarter. Mercer Capital Advisers Inc. bought a new stake in Fidelity National Financial during the third quarter valued at about $122,000. Salem Investment Counselors Inc. bought a new stake in Fidelity National Financial during the third quarter valued at about $125,000. Global X Management Co. LLC boosted its stake 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 valued at $128,000 after buying an additional 1,511 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its stake 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 valued at $132,000 after buying an additional 2,141 shares in the last quarter. Institutional investors and hedge funds own 86.41% 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.