Fidelity National Financial (NYSE:FNF) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Fidelity National Financial (NYSE:FNF – Get Rating) from a buy rating to a hold rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Fidelity National Title Group, Inc. is a leading provider of title insurance, specialty insurance and claims management services. FNT is one of the nation’s largest title insurance companies through its title insurance underwriters. FNT also provides flood insurance, personal lines insurance and home warranty insurance through it specialty insurance business. FNT also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. “

A number of other research analysts have also issued reports on the stock. Credit Suisse Group decreased their target price on shares of Fidelity National Financial from $75.00 to $59.00 and set an outperform rating on the stock in a research report on Friday, April 1st. Keefe, Bruyette & Woods increased their target price on shares of Fidelity National Financial to $62.00 and gave the stock a na rating in a research report on Monday. Barclays decreased their target price on shares of Fidelity National Financial from $74.00 to $73.00 and set an overweight rating on the stock in a research report on Tuesday, April 12th. BTIG Research assumed coverage on shares of Fidelity National Financial in a research report on Wednesday, February 2nd. They set a neutral rating on the stock. Finally, StockNews.com assumed coverage on shares of Fidelity National Financial in a research report on Thursday, March 31st. They set a hold rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $61.75.

Shares of FNF opened at $40.96 on Monday. Fidelity National Financial has a 52 week low of $38.87 and a 52 week high of $56.44. The firm has a market cap of $11.50 billion, a P/E ratio of 5.28 and a beta of 1.42. The firm’s 50-day simple moving average is $44.50 and its 200 day simple moving average is $48.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.19 and a current ratio of 0.19.

Fidelity National Financial (NYSE:FNF – Get Rating) last announced its earnings results on Tuesday, May 10th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Fidelity National Financial had a net margin of 14.10% and a return on equity of 24.56%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Fidelity National Financial will post 6.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.76 annualized dividend and a dividend yield of 4.30%. Fidelity National Financial’s dividend payout ratio is 22.68%.

In related news, COO Roger S. Jewkes sold 7,438 shares of the stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $50.01, for a total value of $371,974.38. Following the completion of the transaction, the chief operating officer now owns 104,246 shares of the company’s stock, valued at approximately $5,213,342.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.10% of the company’s stock.

A number of large investors have recently modified their holdings of FNF. First Trust Advisors LP lifted its stake in Fidelity National Financial by 109.5% in the 1st quarter. First Trust Advisors LP now owns 8,590,814 shares of the financial services provider’s stock valued at $419,575,000 after purchasing an additional 4,489,781 shares during the last quarter. Norges Bank bought a new position in Fidelity National Financial in the 4th quarter valued at approximately $222,689,000. Brave Warrior Advisors LLC raised its stake in shares of Fidelity National Financial by 39.9% during the third quarter. Brave Warrior Advisors LLC now owns 8,792,405 shares of the financial services provider’s stock valued at $398,648,000 after acquiring an additional 2,505,759 shares during the last quarter. MFN Partners Management LP raised its stake in shares of Fidelity National Financial by 105.1% during the third quarter. MFN Partners Management LP now owns 3,902,600 shares of the financial services provider’s stock valued at $176,944,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Fidelity National Financial by 4.5% during the first quarter. Vanguard Group Inc. now owns 28,877,107 shares of the financial services provider’s stock valued at $1,410,358,000 after acquiring an additional 1,250,233 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Company Profile (Get Rating)

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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