Shares of Fidelity National Financial Inc (NYSE:FNF) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $43.50.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Monday, August 6th. Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Monday, July 16th. Finally, ValuEngine raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd.
Shares of FNF traded up $0.04 during trading hours on Friday, reaching $35.05. 1,682,606 shares of the company traded hands, compared to its average volume of 1,285,057. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 15.44 and a beta of 0.76. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Fidelity National Financial has a 12 month low of $34.00 and a 12 month high of $42.52.
Fidelity National Financial announced that its board has approved a stock repurchase program on Tuesday, July 17th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, September 13th. Fidelity National Financial’s payout ratio is currently 52.86%.
In related news, COO Roger S. Jewkes sold 42,025 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $39.52, for a total transaction of $1,660,828.00. Following the sale, the chief operating officer now owns 201,762 shares of the company’s stock, valued at $7,973,634.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cary H. Thompson sold 85,639 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $40.10, for a total transaction of $3,434,123.90. Following the sale, the director now directly owns 74,000 shares in the company, valued at approximately $2,967,400. The disclosure for this sale can be found here. Insiders have sold 221,548 shares of company stock worth $8,875,866 in the last three months. 6.10% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Golden Gate Private Equity Inc. raised its holdings in Fidelity National Financial by 28.7% in the second quarter. Golden Gate Private Equity Inc. now owns 118,900 shares of the financial services provider’s stock worth $4,473,000 after buying an additional 26,500 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Fidelity National Financial by 0.6% in the second quarter. PNC Financial Services Group Inc. now owns 472,997 shares of the financial services provider’s stock worth $17,793,000 after buying an additional 2,670 shares during the last quarter. Andra AP fonden purchased a new position in Fidelity National Financial in the second quarter worth about $7,848,000. Boston Partners raised its holdings in Fidelity National Financial by 21.0% in the second quarter. Boston Partners now owns 122,290 shares of the financial services provider’s stock worth $4,601,000 after buying an additional 21,229 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Fidelity National Financial by 8.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 949,136 shares of the financial services provider’s stock worth $35,706,000 after buying an additional 72,065 shares during the last quarter. 82.45% of the stock is owned by institutional investors and hedge funds.
About Fidelity National Financial
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries 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 collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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