Fidelity National Financial (NYSE:FNF) Price Target Raised to $49.00

Fidelity National Financial (NYSE:FNF) had its price objective increased by Barclays from $47.00 to $49.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other analysts have also commented on FNF. Zacks Research lowered shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, October 23rd. Keefe, Bruyette & Woods lowered their price objective on Fidelity National Financial from $64.00 to $61.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. National Bank Financial set a $54.00 target price on Fidelity National Financial in a research note on Friday, August 7th. Truist Financial cut their target price on Fidelity National Financial from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, October 15th. Finally, Stephens reduced their target price on Fidelity National Financial from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.40.

Fidelity National Financial Trading Down 0.1%

Shares of FNF stock opened at $44.14 on Monday. Fidelity National Financial has a fifty-two week low of $37.88 and a fifty-two week high of $59.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.26 and a current ratio of 0.27. The stock’s fifty day moving average is $41.68 and its two-hundred day moving average is $47.62. The firm has a market capitalization of $11.84 billion, a P/E ratio of 8.75 and a beta of 0.93.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Thursday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, hitting the consensus estimate of $1.32. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Fidelity National Financial had a return on equity of 15.39% and a net margin of 7.02%. During the same period in the previous year, the firm posted $1.63 EPS. Research analysts expect that Fidelity National Financial will post 5.02 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, December 17th. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.52. Fidelity National Financial’s dividend payout ratio is currently 53.06%.

Hedge Funds Weigh In On Fidelity National Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FNF. Dimensional Fund Advisors LP grew its holdings in shares of Fidelity National Financial by 30.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,210,824 shares of the financial services provider’s stock valued at $195,287,000 after purchasing an additional 973,891 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Fidelity National Financial by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 2,529,383 shares of the financial services provider’s stock worth $117,313,000 after acquiring an additional 13,147 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Fidelity National Financial by 12.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,345,756 shares of the financial services provider’s stock worth $62,416,000 after acquiring an additional 144,966 shares in the last quarter. First Trust Advisors LP increased its position in shares of Fidelity National Financial by 20.2% during the first quarter. First Trust Advisors LP now owns 1,148,920 shares of the financial services provider’s stock worth $53,287,000 after acquiring an additional 192,854 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Fidelity National Financial by 70.3% during the first quarter. Hsbc Holdings PLC now owns 896,177 shares of the financial services provider’s stock worth $41,524,000 after acquiring an additional 369,908 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

About Fidelity National Financial

Fidelity National Financial, Inc. (NYSE: FNF) is a provider of title insurance and related services for real estate transactions. Through its title operations, the company offers title searches and insurance, escrow and closing services, and other support for buyers, sellers, lenders, and real estate professionals. FNF also provides annuity and life insurance products through its F&G business. These offerings include fixed and fixed-indexed annuities and life insurance designed to help individuals and institutions address retirement and financial-protection needs.