Fidelity National Financial (NYSE:FNF) Price Target Cut to $53.00

Fidelity National Financial (NYSE:FNF) had its price objective cut by equities researchers at Keefe, Bruyette & Woods from $55.00 to $53.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 8.78% from the company’s previous close.

A number of other equities analysts have also recently issued reports on FNF. Barclays raised their target price on Fidelity National Financial from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Stephens boosted their price target on shares of Fidelity National Financial from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.40.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $48.72 on Tuesday. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 16.03 and a beta of 1.35. Fidelity National Financial has a 12-month low of $34.96 and a 12-month high of $53.96. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $50.30 and its 200 day simple moving average is $50.34.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.08). Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. As a group, research analysts anticipate that Fidelity National Financial will post 4.67 earnings per share for the current year.

Insider Buying and Selling at Fidelity National Financial

In other news, CFO Anthony Park sold 85,000 shares of the business’s stock in a transaction dated 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 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. In other Fidelity National Financial news, CFO Anthony Park sold 85,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $50.82, for a total value of $4,319,700.00. Following the transaction, the chief financial officer now directly owns 99,049 shares in the company, valued at $5,033,670.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Halim Dhanidina sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $50.64, for a total transaction of $151,920.00. Following the sale, the director now owns 14,906 shares of the company’s stock, valued at $754,839.84. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Fidelity National Financial in the 4th quarter valued at about $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Fidelity National Financial in the first quarter valued at approximately $30,000. Covestor Ltd grew its position in Fidelity National Financial by 109.0% during the first quarter. Covestor Ltd now owns 581 shares of the financial services provider’s stock worth $31,000 after buying an additional 303 shares in the last quarter. Salomon & Ludwin LLC grew its position in Fidelity National Financial by 231.0% during the first quarter. Salomon & Ludwin LLC now owns 609 shares of the financial services provider’s stock worth $32,000 after buying an additional 425 shares in the last quarter. Finally, Mather Group LLC. bought a new position in Fidelity National Financial during the 1st quarter worth $31,000. 81.17% of the stock is owned by institutional investors and hedge funds.

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.