Fidelity National Financial Inc (NYSE:FNF) – Equities researchers at Piper Jaffray Companies reduced their Q3 2018 earnings estimates for shares of Fidelity National Financial in a research report issued on Thursday, October 11th. Piper Jaffray Companies analyst J. Deleeuw now forecasts that the financial services provider will earn $0.77 per share for the quarter, down from their prior estimate of $0.80. Piper Jaffray Companies also issued estimates for Fidelity National Financial’s Q4 2018 earnings at $0.73 EPS, FY2018 earnings at $2.78 EPS, Q2 2019 earnings at $0.93 EPS, Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.80 EPS, FY2019 earnings at $3.06 EPS and FY2020 earnings at $3.35 EPS.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Monday, August 6th. Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research note on Monday, July 16th. Finally, ValuEngine raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Fidelity National Financial has a consensus rating of “Buy” and a consensus price target of $43.50.
Shares of NYSE:FNF opened at $35.00 on Monday. The company has a market cap of $10.82 billion, a P/E ratio of 15.42 and a beta of 0.76. Fidelity National Financial has a 12 month low of $34.00 and a 12 month high of $42.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80.
Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $2.11 billion. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. Fidelity National Financial’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share.
Fidelity National Financial declared that its board has approved a share buyback program on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Fidelity National Financial news, COO Roger S. Jewkes sold 43,409 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $39.79, for a total value of $1,727,244.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger S. Jewkes sold 42,025 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $39.52, for a total transaction of $1,660,828.00. Following the completion of the transaction, the chief operating officer now directly owns 201,762 shares of the company’s stock, valued at approximately $7,973,634.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,548 shares of company stock valued at $8,875,866. 6.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in FNF. Principal Financial Group Inc. grew its stake in Fidelity National Financial by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 17,034,893 shares of the financial services provider’s stock worth $681,736,000 after buying an additional 500,930 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. grew its stake in Fidelity National Financial by 22.0% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,985,032 shares of the financial services provider’s stock worth $74,677,000 after buying an additional 357,654 shares in the last quarter. Marshall Wace LLP purchased a new position in Fidelity National Financial in the 2nd quarter worth approximately $11,009,000. Canada Pension Plan Investment Board grew its stake in Fidelity National Financial by 53.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 742,449 shares of the financial services provider’s stock worth $27,931,000 after buying an additional 259,991 shares in the last quarter. Finally, Andra AP fonden purchased a new position in Fidelity National Financial in the 2nd quarter worth approximately $7,848,000. 82.45% of the stock is owned by institutional investors and hedge funds.
About Fidelity National Financial
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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