Zacks Investment Research Downgrades Fidelity National Financial, Inc. (FNF) to Hold

Fidelity National Financial, Inc. (NYSE:FNF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Several other equities analysts have also commented on FNF. Barclays PLC raised their price target on Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. ValuEngine upgraded Fidelity National Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $48.00 target price on shares of Fidelity National Financial in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $46.60.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.29 billion for 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 business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share.

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In other news, insider Brent B. Bickett sold 58,896 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the sale, the insider now owns 562,658 shares in the company, valued at $25,190,198.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the director now owns 11,817 shares in the company, valued at approximately $572,060.97. The disclosure for this sale can be found here. Insiders sold 272,897 shares of company stock worth $12,863,333 in the last quarter. 5.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of FNF. BlackRock Inc. grew its stake in shares of Fidelity National Financial by 4,066.1% during the first quarter. BlackRock Inc. now owns 14,703,507 shares of the financial services provider’s stock worth $572,554,000 after acquiring an additional 14,350,573 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Fidelity National Financial by 65.0% during the second quarter. Principal Financial Group Inc. now owns 17,770,127 shares of the financial services provider’s stock worth $796,636,000 after acquiring an additional 7,000,057 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Fidelity National Financial by 1,675.0% during the second quarter. Victory Capital Management Inc. now owns 4,323,096 shares of the financial services provider’s stock worth $193,805,000 after acquiring an additional 4,079,547 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Fidelity National Financial by 28.0% during the second quarter. Alliancebernstein L.P. now owns 5,965,608 shares of the financial services provider’s stock worth $267,438,000 after acquiring an additional 1,303,871 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Fidelity National Financial by 4.3% during the first quarter. Vanguard Group Inc. now owns 21,623,652 shares of the financial services provider’s stock worth $842,024,000 after acquiring an additional 884,191 shares during the last quarter. Institutional investors and hedge funds own 82.09% 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.

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