Fidelity National Financial (NYSE:FNF) Price Target Cut to $61.00 by Analysts at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut Fidelity National Financial’s price target from $64 to $61 while maintaining an “outperform” rating, implying 24.35% upside from the prior close.
• Analyst views remain mixed: FNF has a consensus “Hold” rating and an average price target of $56.75, with ratings ranging from “Strong Sell” to “Buy.”
• FNF recently exceeded quarterly expectations, reporting $1.39 in EPS versus $1.31 expected and $4.05 billion in revenue versus $3.79 billion forecast; revenue increased 11.4% year over year.

Fidelity National Financial (NYSE:FNF - Get Free Report) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $64.00 to $61.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 24.35% from the company's previous close.

A number of other equities analysts have also recently commented on FNF. Zacks Research cut shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, May 8th. National Bank Financial set a $54.00 price objective on shares of Fidelity National Financial in a research report on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Barclays upped their target price on shares of Fidelity National Financial from $51.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Stephens lowered their price target on Fidelity National Financial from $61.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $56.75.

Fidelity National Financial Trading Down 2.2%

Shares of FNF stock opened at $49.05 on Monday. The company has a market capitalization of $13.16 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95. Fidelity National Financial has a 52-week low of $42.78 and a 52-week high of $61.40. The business's fifty day moving average is $49.05 and its 200 day moving average is $49.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.26 and a current ratio of 0.26.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.79 billion. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.Fidelity National Financial's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. On average, equities research analysts anticipate that Fidelity National Financial will post 5.11 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Fidelity National Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Windacre Partnership LLC lifted 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 worth $1,143,569,000 after buying an additional 4,477,900 shares during the period. State Street Corp increased its stake in shares of Fidelity National Financial by 0.3% during the third 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Fidelity National Financial by 2.1% during the fourth 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 acquiring an additional 193,629 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Fidelity National Financial by 34.5% during the fourth quarter. AQR Capital Management LLC now owns 6,800,697 shares of the financial services provider's stock valued at $371,250,000 after acquiring an additional 1,743,342 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Fidelity National Financial by 0.9% in the fourth quarter. First Eagle Investment Management LLC now owns 6,102,523 shares of the financial services provider's stock worth $333,137,000 after acquiring an additional 54,756 shares during the period. 81.17% of the stock is currently owned by institutional investors.

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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