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

Fidelity National Financial, Inc. (NYSE:FNF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $53.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.07% 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 shares of Fidelity National Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Barclays PLC raised their target price on shares of Fidelity National Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $48.00 target price on shares of Fidelity National Financial in a research note on Friday, July 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Fidelity National Financial presently has a consensus rating of “Buy” and a consensus target price of $46.60.

Fidelity National Financial (NYSE:FNF) traded down 0.61% on Thursday, reaching $47.29. 528,087 shares of the company were exchanged. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 20.62 and a beta of 0.96. The stock has a 50-day moving average price of $47.70 and a 200 day moving average price of $42.95. Fidelity National Financial has a 52 week low of $31.64 and a 52 week high of $49.37.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The firm 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 10.41%. Fidelity National Financial’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Analysts forecast that Fidelity National Financial will post $2.55 earnings per share for the current year.

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In other news, insider Brent B. Bickett sold 58,896 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 562,658 shares in the company, valued at approximately $25,190,198.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the completion of the transaction, the executive vice president now owns 89,575 shares of the company’s stock, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FNF. BlackRock Inc. increased its holdings in shares of Fidelity National Financial by 4,066.1% in the 1st quarter. BlackRock Inc. now owns 14,703,507 shares of the financial services provider’s stock valued at $572,554,000 after purchasing an additional 14,350,573 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Fidelity National Financial by 65.0% in the 2nd quarter. Principal Financial Group Inc. now owns 17,770,127 shares of the financial services provider’s stock valued at $796,636,000 after purchasing an additional 7,000,057 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Fidelity National Financial by 1,675.0% in the 2nd quarter. Victory Capital Management Inc. now owns 4,323,096 shares of the financial services provider’s stock valued at $193,805,000 after purchasing an additional 4,079,547 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Fidelity National Financial by 28.0% in the 2nd quarter. Alliancebernstein L.P. now owns 5,965,608 shares of the financial services provider’s stock valued at $267,438,000 after purchasing an additional 1,303,871 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Fidelity National Financial by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 21,623,652 shares of the financial services provider’s stock valued at $842,024,000 after purchasing an additional 884,191 shares in the last quarter. Institutional investors and hedge funds own 84.89% 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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