Stephens Reaffirms Overweight Rating for Fidelity National Financial (NYSE:FNF)

Stephens restated their overweight rating on shares of Fidelity National Financial (NYSE:FNF) in a research report report published on Thursday morning, Benzinga reports. Stephens currently has a $63.00 target price on the financial services provider’s stock.

Several other brokerages have also issued reports on FNF. Deutsche Bank Aktiengesellschaft raised their price target on shares of Fidelity National Financial from $61.00 to $63.00 and gave the stock a hold rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $53.00 price objective on shares of Fidelity National Financial in a research note on Tuesday, August 6th. StockNews.com lowered shares of Fidelity National Financial from a buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, Truist Financial lifted their price objective on shares of Fidelity National Financial from $62.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Fidelity National Financial has a consensus rating of Hold and an average price target of $59.80.

Fidelity National Financial Trading Up 0.9 %

Shares of FNF stock opened at $56.95 on Thursday. The company has a 50 day moving average of $51.85 and a 200-day moving average of $51.21. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.50. Fidelity National Financial has a 12-month low of $37.10 and a 12-month high of $57.16. The firm has a market cap of $15.56 billion, a P/E ratio of 18.73 and a beta of 1.35.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.03). Fidelity National Financial had a return on equity of 14.24% and a net margin of 6.55%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts anticipate that Fidelity National Financial will post 4.58 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.48 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.92 dividend on an annualized basis and a yield of 3.37%. Fidelity National Financial’s dividend payout ratio is 63.16%.

Insider Activity

In other news, CFO Anthony Park sold 85,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $50.82, for a total transaction of $4,319,700.00. Following the completion of the transaction, the chief financial officer now directly owns 99,049 shares in the company, valued at approximately $5,033,670.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its position in shares of Fidelity National Financial by 0.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 66,445 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 196 shares in the last quarter. Chesley Taft & Associates LLC lifted its holdings in shares of Fidelity National Financial by 1.9% during the 2nd quarter. Chesley Taft & Associates LLC now owns 10,575 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 200 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Fidelity National Financial by 1.3% during the 2nd quarter. Intech Investment Management LLC now owns 15,336 shares of the financial services provider’s stock worth $758,000 after acquiring an additional 202 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Fidelity National Financial by 10.6% during the 1st quarter. GAMMA Investing LLC now owns 2,155 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 207 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Fidelity National Financial by 13.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 213 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

About Fidelity National Financial

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 products.