Zacks Investment Research Lowers Fidelity National Financial (NYSE:FNF) to Strong Sell

Fidelity National Financial (NYSE:FNFGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, 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. “

FNF has been the topic of a number of other reports. StockNews.com initiated coverage on Fidelity National Financial in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group dropped their price objective on shares of Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. Keefe, Bruyette & Woods lifted their price target on shares of Fidelity National Financial to $62.00 and gave the company a “na” rating in a report on Monday, May 16th. Barclays dropped their target price on shares of Fidelity National Financial from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Finally, BTIG Research assumed coverage on shares of Fidelity National Financial in a research report on Wednesday, February 2nd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.75.

FNF traded up $0.02 during midday trading on Wednesday, reaching $42.32. The company had a trading volume of 1,528,036 shares, compared to its average volume of 2,276,881. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.38. Fidelity National Financial has a 1 year low of $38.87 and a 1 year high of $56.44. The business has a 50-day moving average of $42.74 and a two-hundred day moving average of $47.63. The company has a market cap of $11.88 billion, a P/E ratio of 5.45 and a beta of 1.42.

Fidelity National Financial (NYSE:FNFGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. Fidelity National Financial had a return on equity of 24.56% and a net margin of 14.10%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $1.56 EPS. Fidelity National Financial’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Fidelity National Financial will post 6.05 EPS for the current year.

In other news, COO Roger S. Jewkes sold 7,438 shares of Fidelity National Financial stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $50.01, for a total value of $371,974.38. Following the sale, the chief operating officer now directly owns 104,246 shares in the company, valued at $5,213,342.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of FNF. American Century Companies Inc. raised its stake in Fidelity National Financial by 9.1% during the third quarter. American Century Companies Inc. now owns 39,716 shares of the financial services provider’s stock worth $1,801,000 after acquiring an additional 3,318 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in Fidelity National Financial by 8.0% in the third quarter. First Republic Investment Management Inc. now owns 26,711 shares of the financial services provider’s stock worth $1,211,000 after acquiring an additional 1,986 shares in the last quarter. Blueshift Asset Management LLC bought a new position in Fidelity National Financial in the third quarter worth approximately $208,000. Assetmark Inc. lifted its holdings in shares of Fidelity National Financial by 134.5% in the third quarter. Assetmark Inc. now owns 652 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 374 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Fidelity National Financial by 40.2% during the third quarter. Rockefeller Capital Management L.P. now owns 2,788 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 800 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Company Profile (Get Rating)

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 insurance.

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