Fidelity National Financial (NYSE:FNF) Given New $47.00 Price Target at Barclays

Key Points

• Barclays lowered Fidelity National Financial’s price target from $54 to $47 while maintaining an “equal weight” rating, implying approximately 19.4% upside from the prior close.
• Analyst sentiment remains cautious: FNF has a consensus “Hold” rating and an average price target of $54.25, despite some firms maintaining Buy or Outperform views.
• FNF reported quarterly EPS of $1.39, beating estimates of $1.31, while revenue reached $4.05 billion and increased 11.4% year over year. Institutional investors own approximately 81.2% of the company’s stock.

Fidelity National Financial (NYSE:FNF - Get Free Report) had its price target cut by Barclays from $54.00 to $47.00 in a report issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective would suggest a potential upside of 19.43% from the stock's previous close.

A number of other research firms also recently weighed in on FNF. Weiss Ratings restated a "hold (c)" rating on shares of Fidelity National Financial in a report on Tuesday, September 8th. Zacks Research upgraded shares of Fidelity National Financial from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. National Bank Financial set a $54.00 price target on shares of Fidelity National Financial in a research report on Friday, August 7th. Stephens restated an "overweight" rating and issued a $55.00 target price on shares of Fidelity National Financial in a research note on Monday, August 24th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of 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. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.25.

Fidelity National Financial Stock Performance

FNF stock traded up $0.09 during trading hours on Monday, hitting $39.35. 455,274 shares of the stock were exchanged, compared to its average volume of 1,870,905. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50. Fidelity National Financial has a 12 month low of $38.06 and a 12 month high of $60.37. The company has a 50-day simple moving average of $46.40 and a two-hundred day simple moving average of $47.61. The firm has a market capitalization of $10.55 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.58 and a beta of 0.94.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly 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. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.79 billion. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. On average, analysts forecast that Fidelity National Financial will post 5.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelity National Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its position in Fidelity National Financial by 6.3% during the second quarter. Sequoia Financial Advisors LLC now owns 8,476 shares of the financial services provider's stock valued at $400,000 after purchasing an additional 504 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Fidelity National Financial by 28.3% during the second quarter. Tidal Investments LLC now owns 43,893 shares of the financial services provider's stock valued at $2,070,000 after buying an additional 9,687 shares during the period. National Pension Service increased its position in shares of Fidelity National Financial by 314.2% during the second quarter. National Pension Service now owns 112,189 shares of the financial services provider's stock valued at $5,291,000 after buying an additional 85,106 shares during the period. WINTON GROUP Ltd raised its position in shares of Fidelity National Financial by 44.7% in the 2nd quarter. WINTON GROUP Ltd now owns 13,094 shares of the financial services provider's stock worth $618,000 after acquiring an additional 4,042 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in Fidelity National Financial by 96.8% in the second quarter. Engineers Gate Manager LP now owns 81,080 shares of the financial services provider's stock worth $3,824,000 after purchasing an additional 39,888 shares during the period. Hedge funds and other institutional investors own 81.17% of the company's stock.

About Fidelity National Financial

Fidelity National Financial, Inc NYSE: FNF is a leading provider of title insurance and transaction services in the United States. Through its title insurance companies, the company helps protect property owners and lenders against losses arising from defects in property titles and supports the closing of residential and commercial real estate transactions.

FNF operates a portfolio of well-known title brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.

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