Zacks Investment Research Downgrades Fidelity National Financial (NYSE:FNF) to Hold

Fidelity National Financial (NYSE:FNF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday, 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 equities analysts have also recently issued reports on the company. Compass Point upgraded Fidelity National Financial from a “neutral” rating to a “buy” rating in a report on Monday, July 8th. SunTrust Banks raised their target price on Fidelity National Financial to $45.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods raised their target price on Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Susquehanna Bancshares started coverage on Fidelity National Financial in a report on Wednesday, June 19th. They set a “positive” rating and a $48.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.25.



FNF traded down $0.06 during midday trading on Thursday, reaching $44.20. 610,557 shares of the company were exchanged, compared to its average volume of 1,175,723. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95. Fidelity National Financial has a one year low of $29.50 and a one year high of $44.79. The stock has a market capitalization of $12.18 billion, a P/E ratio of 16.37 and a beta of 0.86. The stock’s 50-day simple moving average is $42.82 and its 200 day simple moving average is $39.06.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Fidelity National Financial had a return on equity of 16.10% and a net margin of 9.84%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business earned $0.86 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Fidelity National Financial will post 2.91 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Cpwm LLC increased its position in shares of Fidelity National Financial by 1.1% during the 2nd quarter. Cpwm LLC now owns 23,630 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 249 shares during the last quarter. Institutional & Family Asset Management LLC increased its holdings in shares of Fidelity National Financial by 12.5% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 2,258 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 250 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Fidelity National Financial by 1.4% during the 2nd quarter. Advisory Services Network LLC now owns 19,359 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 260 shares during the last quarter. Hotaling Investment Management LLC increased its holdings in shares of Fidelity National Financial by 0.9% during the 2nd quarter. Hotaling Investment Management LLC now owns 33,770 shares of the financial services provider’s stock worth $1,361,000 after acquiring an additional 289 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Fidelity National Financial by 0.8% during the 2nd quarter. M&T Bank Corp now owns 40,892 shares of the financial services provider’s stock worth $1,647,000 after acquiring an additional 306 shares during 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.

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