Fidelity National Financial (NYSE:FNF) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Fidelity National Financial to “Hold” from “Strong Sell.” Other analysts remain mixed, with the stock carrying an overall “Hold” consensus and an average price target of $56.
• FNF reported quarterly EPS of $1.39, exceeding estimates of $1.31, while revenue rose 11.4% year over year to $4.05 billion, above expectations of $3.79 billion.
• The stock opened at $47.30, down 0.4%, below its 50-day and 200-day moving averages near $49.30. Institutional investors own 81.17% of the company, while an executive recently sold more than 69,000 shares.

Fidelity National Financial (NYSE:FNF - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. National Bank Financial set a $54.00 target price on Fidelity National Financial in a research note on Friday, August 7th. Stephens reaffirmed an "overweight" rating and set a $55.00 price target on shares of Fidelity National Financial in a research report on Monday. Keefe, Bruyette & Woods cut their price objective on Fidelity National Financial from $64.00 to $61.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Barclays boosted their price objective on Fidelity National Financial from $51.00 to $54.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $56.00.

Fidelity National Financial Trading Down 0.4%

FNF opened at $47.30 on Wednesday. The firm's fifty day moving average is $49.30 and its two-hundred day moving average is $49.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $12.69 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. Fidelity National Financial has a twelve month low of $42.78 and a twelve month high of $61.40.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced 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. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The company 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 EPS. The firm's revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Fidelity National Financial will post 5.18 EPS for the current year.

Insider Activity

In related news, EVP Peter T. Sadowski sold 69,196 shares of Fidelity National Financial stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the sale, the executive vice president owned 5,702 shares of the company's stock, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Fidelity National Financial

A number of large investors have recently bought and sold shares of FNF. California State Teachers Retirement System raised its holdings in shares of Fidelity National Financial by 4,524.8% in the second quarter. California State Teachers Retirement System now owns 20,659,240 shares of the financial services provider's stock valued at $974,290,000 after purchasing an additional 20,212,535 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Fidelity National Financial by 26.5% in the second quarter. HB Wealth Management LLC now owns 24,799 shares of the financial services provider's stock worth $1,170,000 after purchasing an additional 5,191 shares in the last quarter. Saudi Central Bank boosted its holdings in Fidelity National Financial by 89.7% during the second quarter. Saudi Central Bank now owns 18,031 shares of the financial services provider's stock worth $850,000 after purchasing an additional 8,524 shares during the last quarter. AlphaGrep UK Ltd acquired a new position in Fidelity National Financial during the second quarter worth $573,000. Finally, Markowski Investments bought a new position in Fidelity National Financial in the second quarter valued at $51,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Company Profile

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.

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