Fidelity National Financial (NYSE:FNF) Stock Rating Reaffirmed by Credit Suisse Group

Fidelity National Financial (NYSE:FNF – Get Rating)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Credit Suisse Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $47.00 target price on the financial services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 23.33% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Barclays decreased their price target on Fidelity National Financial from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, February 24th. Keefe, Bruyette & Woods decreased their price target on Fidelity National Financial from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Truist Financial decreased their price target on Fidelity National Financial from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, November 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Fidelity National Financial Stock Performance

Shares of NYSE FNF opened at $38.11 on Thursday. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 9.36 and a beta of 1.36. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. Fidelity National Financial has a 1-year low of $34.51 and a 1-year high of $50.50. The stock’s 50-day moving average is $41.19 and its 200 day moving average is $39.68.

Fidelity National Financial (NYSE:FNF – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The financial services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.22). The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Fidelity National Financial had a return on equity of 22.52% and a net margin of 9.83%. Fidelity National Financial’s revenue for the quarter was down 46.8% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. On average, sell-side analysts anticipate that Fidelity National Financial will post 4.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel D. Lane sold 5,531 shares of Fidelity National Financial stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $37.44, for a total transaction of $207,080.64. Following the sale, the director now directly owns 271,325 shares in the company, valued at $10,158,408. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Financial

Several hedge funds have recently made changes to their positions in FNF. Norges Bank bought a new stake in shares of Fidelity National Financial during the fourth quarter valued at approximately $112,133,000. Nordea Investment Management AB boosted its position in shares of Fidelity National Financial by 491.4% during the fourth quarter. Nordea Investment Management AB now owns 2,533,193 shares of the financial services provider’s stock valued at $95,425,000 after purchasing an additional 2,104,834 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Fidelity National Financial in the fourth quarter worth $63,044,000. Vanguard Group Inc. boosted its holdings in Fidelity National Financial by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,877,107 shares of the financial services provider’s stock worth $1,410,358,000 after acquiring an additional 1,250,233 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Fidelity National Financial in the fourth quarter worth $40,584,000. 77.98% of the stock is currently owned by institutional investors.

About Fidelity National Financial

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Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to the 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.