Fidelity National Financial (NYSE:FNF) Given New $67.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target on Fidelity National Financial from $71 to $67 but kept an "outperform" rating, implying about a 39.9% upside from the prior close.
• FNF reported quarterly EPS of $1.41 (missing estimates of $1.51) while revenue of $4.05 billion beat expectations and rose 11.9% year-over-year.
• Analyst views are mixed—several firms have lowered targets or ratings—resulting in a MarketBeat consensus of "Moderate Buy" with a consensus target of $64, while the stock trades around $47.91 (market cap ≈ $13B).

Fidelity National Financial (NYSE:FNF - Get Free Report) had its target price dropped by equities researchers at Keefe, Bruyette & Woods from $71.00 to $67.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 39.86% from the company's previous close.

Several other research analysts have also issued reports on FNF. Barclays dropped their price objective on Fidelity National Financial from $63.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday. National Bank Financial set a $71.00 price objective on Fidelity National Financial in a research note on Monday, February 23rd. Weiss Ratings lowered Fidelity National Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered Fidelity National Financial from a "buy" rating to a "hold" rating in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Fidelity National Financial Stock Up 0.2%

Shares of FNF traded up $0.10 during trading hours on Friday, reaching $47.91. The company's stock had a trading volume of 483,434 shares, compared to its average volume of 1,889,502. The firm has a market cap of $12.99 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 0.61 and a beta of 1.01. Fidelity National Financial has a 1-year low of $42.78 and a 1-year high of $65.33. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $50.46 and a two-hundred day moving average of $54.39.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The financial services provider reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.51 by ($0.10). Fidelity National Financial had a return on equity of 15.06% and a net margin of 4.17%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the company posted $1.34 EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. As a group, research analysts predict that Fidelity National Financial will post 6.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Windacre Partnership LLC grew its holdings in Fidelity National Financial by 31.0% in the 3rd quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider's stock valued at $1,143,569,000 after buying an additional 4,477,900 shares in the last quarter. State Street Corp grew its holdings in Fidelity National Financial by 0.3% in the 3rd quarter. State Street Corp now owns 9,469,029 shares of the financial services provider's stock valued at $572,782,000 after buying an additional 31,318 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fidelity National Financial by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,353,982 shares of the financial services provider's stock valued at $510,634,000 after buying an additional 193,629 shares in the last quarter. AQR Capital Management LLC grew its holdings in Fidelity National Financial by 34.5% in the 4th quarter. AQR Capital Management LLC now owns 6,800,697 shares of the financial services provider's stock valued at $371,250,000 after buying an additional 1,743,342 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Fidelity National Financial by 0.9% in the 4th quarter. First Eagle Investment Management LLC now owns 6,102,523 shares of the financial services provider's stock valued at $333,137,000 after buying an additional 54,756 shares in the last quarter. Institutional investors and hedge funds 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.

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