Fidelity National Financial (NYSE:FNF) Price Target Increased to $65.00 by Analysts at Credit Suisse Group

Fidelity National Financial (NYSE:FNF) had its price objective upped by Credit Suisse Group from $56.00 to $65.00 in a research note released on Friday, PriceTargets.com reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on FNF. Zacks Investment Research raised Fidelity National Financial from a hold rating to a buy rating and set a $53.00 price objective on the stock in a report on Wednesday, October 13th. Barclays upped their price objective on Fidelity National Financial from $65.00 to $69.00 and gave the stock an overweight rating in a report on Thursday, November 4th.

FNF stock opened at $52.35 on Friday. Fidelity National Financial has a 1-year low of $35.55 and a 1-year high of $52.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 5.63 and a beta of 1.37. The business has a 50 day simple moving average of $48.16 and a two-hundred day simple moving average of $46.84.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Tuesday, November 2nd. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.38. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Fidelity National Financial had a return on equity of 25.68% and a net margin of 18.40%. During the same period in the prior year, the firm earned $1.48 EPS. Sell-side analysts anticipate that Fidelity National Financial will post 6.87 EPS for the current fiscal year.

Fidelity National Financial announced that its board has authorized a stock buyback plan on Tuesday, August 3rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 0.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Friday, December 17th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.36%. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.40. Fidelity National Financial’s dividend payout ratio is presently 17.20%.

In other Fidelity National Financial news, COO Roger S. Jewkes sold 36,982 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $49.13, for a total value of $1,816,925.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger S. Jewkes sold 13,018 shares of the stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $49.17, for a total value of $640,095.06. The disclosure for this sale can be found here. Insiders have sold a total of 80,000 shares of company stock worth $3,817,821 in the last 90 days. 5.20% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in FNF. Ameriprise Financial Inc. grew its position in shares of Fidelity National Financial by 52.2% during the 1st quarter. Ameriprise Financial Inc. now owns 180,173 shares of the financial services provider’s stock worth $7,321,000 after buying an additional 61,809 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Fidelity National Financial by 251.8% during the 1st quarter. Captrust Financial Advisors now owns 4,669 shares of the financial services provider’s stock worth $190,000 after buying an additional 3,342 shares in the last quarter. Man Group plc grew its position in shares of Fidelity National Financial by 52.0% during the 1st quarter. Man Group plc now owns 20,107 shares of the financial services provider’s stock worth $817,000 after buying an additional 6,879 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of Fidelity National Financial by 40.3% during the 1st quarter. Glenmede Trust Co. NA now owns 39,681 shares of the financial services provider’s stock worth $1,612,000 after buying an additional 11,399 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Fidelity National Financial by 26.3% during the 1st quarter. Morgan Stanley now owns 808,689 shares of the financial services provider’s stock worth $32,881,000 after buying an additional 168,303 shares in the last quarter. Institutional investors and hedge funds own 79.45% of the company’s stock.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to real estate and mortgage industries. Its services include title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products; and technology and transaction services to the real estate and mortgage industries.

Further Reading: Market Capitalization in the Stock Market

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