Truist Financial Forecasts Strong Price Appreciation for Fidelity National Financial (NYSE:FNF) Stock

Fidelity National Financial (NYSE:FNF) had its target price lifted by Truist Financial from $64.00 to $70.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $63.00 price objective on shares of Fidelity National Financial in a research report on Thursday, August 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Fidelity National Financial from $58.00 to $63.00 and gave the company a “market perform” rating in a report on Wednesday, September 4th. StockNews.com cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays boosted their target price on shares of Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.60.

Fidelity National Financial Trading Up 0.3 %

NYSE:FNF opened at $60.98 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.24 and a quick ratio of 0.24. The firm has a market capitalization of $16.69 billion, a P/E ratio of 22.17 and a beta of 1.37. The company’s 50-day simple moving average is $60.40 and its 200 day simple moving average is $55.27. Fidelity National Financial has a one year low of $43.60 and a one year high of $62.97.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. As a group, analysts forecast that Fidelity National Financial will post 4.5 EPS for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Tuesday, December 17th. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s dividend payout ratio (DPR) is currently 69.82%.

Insider Activity

In related news, Director Halim Dhanidina sold 1,700 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total value of $103,445.00. Following the completion of the sale, the director now directly owns 13,206 shares of the company’s stock, valued at approximately $803,585.10. This represents a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Fidelity National Financial in the 3rd quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Fidelity National Financial in the 2nd quarter worth $26,000. Brooklyn Investment Group bought a new stake in shares of Fidelity National Financial in the 3rd quarter worth about $35,000. New Covenant Trust Company N.A. bought a new position in shares of Fidelity National Financial in the 1st quarter valued at about $30,000. Finally, Covestor Ltd grew its position in Fidelity National Financial by 109.0% in the first quarter. Covestor Ltd now owns 581 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

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 products.