Keefe, Bruyette & Woods Cuts Fidelity National Financial (NYSE:FNF) Price Target to $61.00

Fidelity National Financial (NYSE:FNF) had its price target trimmed by Keefe, Bruyette & Woods from $64.00 to $61.00 in a report issued on Monday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the company. National Bank Financial set a $54.00 price target on Fidelity National Financial in a research note on Friday, August 7th. Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Stephens reduced their target price on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Finally, Barclays boosted their target price on shares of Fidelity National Financial from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fidelity National Financial currently has an average rating of “Hold” and a consensus price target of $56.75.

Fidelity National Financial Stock Performance

Fidelity National Financial stock opened at $47.64 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $12.78 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95. Fidelity National Financial has a 1-year low of $42.78 and a 1-year high of $61.40. The company’s 50-day moving average is $49.14 and its 200 day moving average is $49.80.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts forecast that Fidelity National Financial will post 5.16 EPS for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. Fidelity National Financial’s payout ratio is currently 73.50%.

Insider Buying and Selling at Fidelity National Financial

In other news, EVP Peter T. Sadowski sold 69,196 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the sale, the executive vice president owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. This represents a 92.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.70% of the company’s stock.

Institutional Trading of Fidelity National Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Retirement Investments LLC bought a new position in shares of Fidelity National Financial in the 4th quarter worth $28,000. Headlands Technologies LLC purchased a new position in Fidelity National Financial in the second quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC grew its stake in Fidelity National Financial by 57.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 353 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in Fidelity National Financial in the fourth quarter worth about $58,000. Finally, Torren Management LLC bought a new position in Fidelity National Financial in the fourth quarter worth about $57,000. Institutional investors own 81.17% of the company’s stock.

About Fidelity National Financial

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.