Fidelity National Financial, Inc. (FNF) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Fidelity National Financial, Inc. (NYSE:FNF) from a buy rating to a hold rating in a research report sent to investors on Tuesday, July 4th.

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. “

Other equities analysts have also issued research reports about the stock. Barclays PLC boosted their price objective 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. Monness Crespi & Hardt boosted their price objective on shares of Fidelity National Financial from $42.00 to $45.00 and gave the company a buy rating in a research report on Monday, May 15th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $38.00 target price on shares of Fidelity National Financial in a 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. The stock presently has a consensus rating of Buy and a consensus price target of $46.60.

Shares of Fidelity National Financial (NYSE:FNF) opened at 48.36 on Tuesday. Fidelity National Financial has a 1-year low of $31.64 and a 1-year high of $48.42. The company has a 50 day moving average price of $44.94 and a 200 day moving average price of $40.19. The stock has a market cap of $13.11 billion, a P/E ratio of 21.09 and a beta of 0.93.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.29 billion during 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 10.76%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, equities analysts anticipate that Fidelity National Financial will post $2.55 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.00 annualized dividend and a yield of 2.07%. Fidelity National Financial’s dividend payout ratio is currently 43.67%.

In related news, insider Brent B. Bickett sold 58,896 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $44.77, for a total value of $2,636,773.92. Following the sale, the insider now directly owns 562,658 shares of the company’s stock, valued at $25,190,198.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Park sold 138,941 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 228,280 shares in the company, valued at $9,423,398.40. The disclosure for this sale can be found here. Insiders sold 278,585 shares of company stock valued at $11,886,411 over the last 90 days. Insiders own 5.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Israel Discount Bank of New York GFN acquired a new stake in shares of Fidelity National Financial during the fourth quarter worth $107,000. FTB Advisors Inc. boosted its stake in shares of Fidelity National Financial by 234.3% in the first quarter. FTB Advisors Inc. now owns 3,891 shares of the financial services provider’s stock worth $159,000 after buying an additional 2,727 shares during the period. King Luther Capital Management Corp acquired a new stake in shares of Fidelity National Financial during the first quarter worth $204,000. Atria Investments LLC acquired a new stake in shares of Fidelity National Financial during the second quarter worth $205,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Fidelity National Financial during the first quarter worth $209,000. 84.25% of the stock is currently owned by institutional investors.

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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