Fidelity National Financial (NYSE:FNF) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Fidelity National Financial (NYSE:FNF) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $48.00 price target on the financial services provider’s stock.

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. “

Other analysts have also recently issued research reports about the stock. SunTrust Banks lifted their price objective on shares of Fidelity National Financial to $45.00 and gave the stock a buy rating in a research note on Friday, April 26th. Susquehanna Bancshares started coverage on shares of Fidelity National Financial in a research note on Wednesday, June 19th. They issued a positive rating and a $48.00 price objective for the company. Compass Point upgraded shares of Fidelity National Financial from a neutral rating to a buy rating in a research note on Monday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fidelity National Financial from $44.00 to $48.00 and gave the stock an outperform rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $46.25.

Shares of FNF stock opened at $44.23 on Thursday. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 15.79 and a beta of 0.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $42.36 and a 200 day simple moving average of $38.86. Fidelity National Financial has a 52 week low of $29.50 and a 52 week high of $44.62.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.84 by $0.08. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. Fidelity National Financial’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that Fidelity National Financial will post 2.91 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, September 13th. Fidelity National Financial’s dividend payout ratio (DPR) is 45.93%.

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in Fidelity National Financial by 1.0% during the 2nd quarter. Royal Bank of Canada now owns 597,095 shares of the financial services provider’s stock worth $24,062,000 after purchasing an additional 6,173 shares in the last quarter. UBS Group AG increased its position in Fidelity National Financial by 4.0% during the 2nd quarter. UBS Group AG now owns 405,872 shares of the financial services provider’s stock worth $16,356,000 after purchasing an additional 15,538 shares in the last quarter. Verition Fund Management LLC acquired a new position in Fidelity National Financial during the 2nd quarter worth approximately $223,000. Ladenburg Thalmann Financial Services Inc. increased its position in Fidelity National Financial by 3.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,688 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 524 shares in the last quarter. Finally, Eaton Vance Management increased its position in Fidelity National Financial by 39.3% during the 2nd quarter. Eaton Vance Management now owns 265,268 shares of the financial services provider’s stock worth $10,690,000 after purchasing an additional 74,836 shares in the last quarter. Institutional investors and hedge funds own 83.20% of the company’s stock.

About Fidelity National Financial

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

Read More: Hold Rating

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