Fidelity National Financial (FNF) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Fidelity National Financial (NYSE:FNF) from a buy rating to a hold rating in a report released on Monday morning, Zacks.com reports.

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. Piper Jaffray Companies boosted their target price on shares of Fidelity National Financial from $44.00 to $49.00 and gave the company an overweight rating in a research note on Monday, April 1st. ValuEngine raised shares of Fidelity National Financial from a sell rating to a hold rating in a research note on Thursday, March 7th. Compass Point started coverage on shares of Fidelity National Financial in a research note on Thursday, January 24th. They set a buy rating and a $43.25 target price for the company. Barclays reissued a buy rating and set a $42.00 target price on shares of Fidelity National Financial in a research note on Friday, February 15th. Finally, SunTrust Banks boosted their target price on shares of Fidelity National Financial to $45.00 and gave the company a buy rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Fidelity National Financial currently has an average rating of Hold and an average target price of $43.79.

FNF stock opened at $39.05 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. Fidelity National Financial has a twelve month low of $29.50 and a twelve month high of $41.41. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 14.46 and a beta of 0.94.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. Fidelity National Financial had a net margin of 9.67% and a return on equity of 16.03%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Fidelity National Financial will post 2.72 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, June 13th. Fidelity National Financial’s dividend payout ratio is currently 45.93%.

Several institutional investors and hedge funds have recently modified their holdings of FNF. Norges Bank purchased a new stake in shares of Fidelity National Financial during the fourth quarter valued at $116,541,000. FMR LLC lifted its stake in Fidelity National Financial by 14.9% in the fourth quarter. FMR LLC now owns 12,842,297 shares of the financial services provider’s stock worth $403,763,000 after acquiring an additional 1,665,150 shares during the period. Miller Howard Investments Inc. NY lifted its stake in Fidelity National Financial by 92.1% in the first quarter. Miller Howard Investments Inc. NY now owns 2,112,678 shares of the financial services provider’s stock worth $77,218,000 after acquiring an additional 1,013,138 shares during the period. Wells Fargo & Company MN lifted its stake in Fidelity National Financial by 15.9% in the first quarter. Wells Fargo & Company MN now owns 6,095,081 shares of the financial services provider’s stock worth $222,776,000 after acquiring an additional 836,632 shares during the period. Finally, Strycker View Capital LLC purchased a new stake in Fidelity National Financial in the first quarter worth about $20,818,000. 84.13% of the stock is owned by hedge funds and other institutional investors.

About Fidelity National Financial

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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Analyst Recommendations for Fidelity National Financial (NYSE:FNF)

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