Keefe, Bruyette & Woods Cuts Fidelity National Financial (NYSE:FNF) Price Target to $63.00

Fidelity National Financial (NYSE:FNF) had its price target reduced by Keefe, Bruyette & Woods from $64.00 to $63.00 in a research note published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $77.00 in a report on Friday, January 3rd. Barclays boosted their target price on shares of Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Truist Financial increased their price target on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Fidelity National Financial currently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

Fidelity National Financial Trading Down 3.2 %

Shares of Fidelity National Financial stock opened at $54.23 on Wednesday. Fidelity National Financial has a 12-month low of $46.85 and a 12-month high of $64.83. The stock has a market capitalization of $14.84 billion, a P/E ratio of 19.72 and a beta of 1.38. The company has a 50-day simple moving average of $59.33 and a 200 day simple moving average of $57.76. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.47.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.11). The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.32 billion. Fidelity National Financial had a return on equity of 13.72% and a net margin of 5.57%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. Research analysts expect that Fidelity National Financial will post 4.57 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.50 per share. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, December 17th. This represents a $2.00 annualized dividend and a dividend yield of 3.69%. Fidelity National Financial’s payout ratio is currently 72.73%.

Insider Activity at Fidelity National Financial

In other Fidelity National Financial news, Director Sandra Douglass Morgan sold 2,092 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $56.33, for a total value of $117,842.36. Following the transaction, the director now owns 32,386 shares of the company’s stock, valued at approximately $1,824,303.38. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Fidelity National Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB grew its holdings in Fidelity National Financial by 25.1% during the third quarter. Swedbank AB now owns 42,375 shares of the financial services provider’s stock valued at $2,630,000 after purchasing an additional 8,511 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Fidelity National Financial by 61.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 49,707 shares of the financial services provider’s stock worth $2,457,000 after buying an additional 18,838 shares during the period. Barclays PLC raised its stake in Fidelity National Financial by 4.4% during the 3rd quarter. Barclays PLC now owns 216,755 shares of the financial services provider’s stock worth $13,451,000 after buying an additional 9,146 shares during the period. Horizon Kinetics Asset Management LLC grew its stake in Fidelity National Financial by 35.1% in the third quarter. Horizon Kinetics Asset Management LLC now owns 58,071 shares of the financial services provider’s stock valued at $3,604,000 after acquiring an additional 15,100 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Fidelity National Financial in the fourth quarter valued at about $621,000. 81.17% of the stock is owned by institutional investors.

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.