Fidelity National Financial (NYSE:FNF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $48.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.17% from the stock’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 a number of other reports. SunTrust Banks boosted their price objective on Fidelity National Financial to $45.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Compass Point raised Fidelity National Financial from a “neutral” rating to a “buy” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Susquehanna Bancshares started coverage on Fidelity National Financial in a research note on Wednesday, June 19th. They set a “positive” rating and a $48.00 target price for the company. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.25.
Shares of Fidelity National Financial stock traded up $0.56 on Thursday, reaching $43.57. 1,114,300 shares of the company were exchanged, compared to its average volume of 1,187,480. Fidelity National Financial has a 1-year low of $29.50 and a 1-year high of $44.62. The company has a market cap of $11.92 billion, a P/E ratio of 16.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day moving average price is $42.28 and its 200-day moving average price is $38.83.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Fidelity National Financial had a return on equity of 16.10% and a net margin of 9.84%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts predict that Fidelity National Financial will post 2.85 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Fidelity National Financial by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,930,396 shares of the financial services provider’s stock valued at $92,074,000 after purchasing an additional 93,220 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Fidelity National Financial in the first quarter worth approximately $510,000. IFM Investors Pty Ltd grew its stake in shares of Fidelity National Financial by 15.1% in the first quarter. IFM Investors Pty Ltd now owns 20,451 shares of the financial services provider’s stock worth $747,000 after acquiring an additional 2,682 shares during the period. Strs Ohio grew its stake in shares of Fidelity National Financial by 5.2% in the first quarter. Strs Ohio now owns 32,952 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 1,622 shares during the period. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of Fidelity National Financial in the first quarter worth approximately $65,000. Institutional investors own 82.87% of the company’s stock.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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