Fidelity National Financial (NYSE:FNF) Sets New 12-Month Low – Here’s What Happened

Shares of Fidelity National Financial, Inc. (NYSE:FNF) reached a new 52-week low on Tuesday . The stock traded as low as $42.21 and last traded at $42.2030, with a volume of 315110 shares. The stock had previously closed at $42.46.

Analysts Set New Price Targets

FNF has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Fidelity National Financial from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. National Bank Financial set a $54.00 price target on shares of Fidelity National Financial in a research note on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Fidelity National Financial in a research report on Tuesday, September 8th. Stephens reaffirmed an “overweight” rating and issued a $55.00 target price on shares of Fidelity National Financial in a report on Monday, August 24th. Finally, Zacks Research upgraded Fidelity National Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.00.

Fidelity National Financial Stock Performance

The firm has a market cap of $11.31 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.63 and a beta of 0.93. The business has a 50 day simple moving average of $48.19 and a two-hundred day simple moving average of $48.12. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. Fidelity National Financial’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Fidelity National Financial, Inc. will post 5.18 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.08 dividend on an annualized basis and a yield of 4.9%. Fidelity National Financial’s dividend payout ratio is currently 73.50%.

Insider Buying and Selling at Fidelity National Financial

In other news, EVP Peter Sadowski sold 69,196 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the sale, the executive vice president directly owned 5,702 shares in the company, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fidelity National Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Fidelity National Financial during the fourth quarter worth $181,017,000. Bank of New York Mellon Corp acquired a new position in shares of Fidelity National Financial in the 2nd quarter valued at about $112,882,000. Dimensional Fund Advisors LP boosted its holdings in shares of Fidelity National Financial by 30.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,210,824 shares of the financial services provider’s stock valued at $195,287,000 after buying an additional 973,891 shares during the period. Hsbc Holdings PLC grew its position in shares of Fidelity National Financial by 70.3% during the 1st quarter. Hsbc Holdings PLC now owns 896,177 shares of the financial services provider’s stock valued at $41,524,000 after buying an additional 369,908 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Fidelity National Financial by 74.4% during the 2nd quarter. Squarepoint Ops LLC now owns 688,380 shares of the financial services provider’s stock valued at $32,464,000 after buying an additional 293,761 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc (NYSE:FNF) is a provider of title insurance, escrow and settlement services, and other title-related products in the United States. Through its Fidelity National Title Group businesses, the company helps protect property buyers, lenders and other parties against losses arising from defects in real estate titles and supports the closing of residential and commercial property transactions.

FNF’s title operations include well-known brands such as Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.