Fidelity National Financial (NYSE:FNF) Issues Earnings Results

Fidelity National Financial (NYSE:FNF) issued its quarterly earnings data on Thursday. The financial services provider reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20, Zacks reports. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.57 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS.

Fidelity National Financial Stock Performance

FNF stock traded up $2.47 during trading on Friday, hitting $57.03. The company had a trading volume of 2,573,992 shares, compared to its average volume of 1,470,761. The firm has a 50-day moving average price of $57.85 and a 200-day moving average price of $57.55. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm has a market cap of $15.50 billion, a PE ratio of 14.47 and a beta of 1.05. Fidelity National Financial has a 1-year low of $50.61 and a 1-year high of $66.72.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.52 dividend. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, December 17th. This represents a $2.08 annualized dividend and a yield of 3.6%. Fidelity National Financial’s payout ratio is presently 50.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Fidelity National Financial by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 629,616 shares of the financial services provider’s stock worth $40,975,000 after acquiring an additional 47,267 shares during the period. Acadian Asset Management LLC raised its holdings in Fidelity National Financial by 141.9% during the first 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 in the last quarter. Invesco Ltd. raised its holdings in Fidelity National Financial by 2.0% during the second 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 Fidelity National Financial in the second quarter valued at about $339,000. Finally, Daiwa Securities Group Inc. boosted its holdings in 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 purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. National Bankshares set a $64.00 price target on shares of Fidelity National Financial in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fidelity National Financial in a report on Wednesday, October 8th. Finally, Barclays reissued a “cautious” rating on shares of Fidelity National Financial in a report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Fidelity National Financial Company Profile

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 products.