Credit Suisse Group Initiates Coverage on Fidelity National Financial (NYSE:FNF)


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Credit Suisse Group initiated coverage on shares of Fidelity National Financial (NYSE:FNF) in a report issued on Monday, Price Targets.com reports. The firm set an “outperform” rating and a $56.00 price target on the financial services provider’s stock. Credit Suisse Group’s target price points to a potential upside of 21.82% from the stock’s current price.

A number of other equities analysts have also recently issued reports on FNF. Truist Securities increased their price objective on shares of Fidelity National Financial from $48.00 to $53.00 in a research note on Thursday, April 15th. Truist upped their target price on shares of Fidelity National Financial from $48.00 to $53.00 in a report on Thursday, April 15th. Finally, Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, March 3rd. Four research analysts have rated the stock with a buy rating, Fidelity National Financial currently has an average rating of “Buy” and a consensus price target of $49.00.

Shares of FNF stock opened at $45.97 on Monday. Fidelity National Financial has a 52-week low of $23.58 and a 52-week high of $46.67. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 13.52 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a fifty day moving average of $42.90 and a 200-day moving average of $38.73.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, February 24th. The financial services provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.69. Fidelity National Financial had a net margin of 10.31% and a return on equity of 20.07%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the company posted $0.95 EPS. On average, sell-side analysts predict that Fidelity National Financial will post 4.47 earnings per share for the current year.

In other Fidelity National Financial news, Director William P. Foley II sold 251,721 shares of the stock in a transaction dated Thursday, April 8th. The shares were sold at an average price of $43.38, for a total transaction of $10,919,656.98. Following the sale, the director now owns 4,853,160 shares of the company’s stock, valued at approximately $210,530,080.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter T. Sadowski sold 25,000 shares of the stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $43.89, for a total transaction of $1,097,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,055 shares of company stock worth $19,703,475. Insiders own 5.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Eudaimonia Partners LLC bought a new position in shares of Fidelity National Financial in the 3rd quarter valued at about $33,000. Huntington National Bank boosted its stake in shares of Fidelity National Financial by 42.9% in the 1st quarter. Huntington National Bank now owns 846 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 254 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Fidelity National Financial by 112.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,011 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 536 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Fidelity National Financial in the 1st quarter valued at about $69,000. Finally, Arlington Partners LLC bought a new position in shares of Fidelity National Financial in the 1st quarter valued at about $72,000. 76.37% of the stock is currently owned by institutional investors.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty insurance.

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