Fidelity National Financial (NYSE:FNF) Announces Earnings Results, Beats Estimates By $0.08 EPS

Fidelity National Financial (NYSE:FNF) released its quarterly earnings results on Wednesday. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08, FiscalAI reports. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.79 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. Fidelity National Financial’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS.

Fidelity National Financial Price Performance

NYSE FNF traded up $1.46 on Thursday, hitting $52.56. 1,452,905 shares of the company were exchanged, compared to its average volume of 1,753,116. Fidelity National Financial has a 1-year low of $42.78 and a 1-year high of $61.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $48.89 and a two-hundred day moving average of $49.95. The company has a market cap of $14.15 billion, a P/E ratio of 19.21, a P/E/G ratio of 0.77 and a beta of 0.95.

Insider Transactions at Fidelity National Financial

In related news, EVP Peter T. Sadowski sold 69,196 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 5,702 shares in the company, valued at $260,581.40. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Financial

Several institutional investors have recently modified their holdings of FNF. Goldman Sachs Group Inc. boosted its holdings in Fidelity National Financial by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 629,616 shares of the financial services provider’s stock worth $40,975,000 after purchasing an additional 47,267 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Fidelity National Financial by 141.9% during the 1st quarter. Acadian Asset Management LLC now owns 14,478 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 8,494 shares during the last quarter. Invesco Ltd. raised its stake in shares of Fidelity National Financial by 2.0% during the 2nd quarter. Invesco Ltd. now owns 820,180 shares of the financial services provider’s stock worth $45,979,000 after purchasing an additional 16,440 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Fidelity National Financial in the 2nd quarter valued at approximately $339,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Fidelity National Financial by 2.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 21,396 shares of the financial services provider’s stock valued at $1,199,000 after buying an additional 500 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.

Analysts Set New Price Targets

FNF has been the topic of a number of recent research reports. Barclays lifted their target price on Fidelity National Financial from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. Stephens dropped their target price on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods reduced their price target on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, Zacks Research cut shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.00.

About Fidelity National Financial

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.