Fidelity National Financial (NYSE:FNF) Trading Down 6% on Disappointing Earnings

Shares of Fidelity National Financial, Inc. (NYSE:FNF) traded down 6% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $51.76 and last traded at $50.98. 119,626 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,477,080 shares. The stock had previously closed at $54.21.

The financial services provider reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.10). The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.66 billion. Fidelity National Financial had a return on equity of 15.06% and a net margin of 8.34%.The business’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $1.34 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. National Bank Financial set a $63.00 price target on Fidelity National Financial in a report on Tuesday, January 6th. Stephens initiated coverage on shares of Fidelity National Financial in a research report on Friday, November 14th. They set an “overweight” rating on the stock. Keefe, Bruyette & Woods increased their target price on shares of Fidelity National Financial from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fidelity National Financial in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Insiders Place Their Bets

In other Fidelity National Financial news, Director Halim Dhanidina sold 6,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $55.90, for a total value of $335,400.00. Following the completion of the sale, the director directly owned 13,186 shares of the company’s stock, valued at approximately $737,097.40. This represents a 31.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quent Capital LLC purchased a new stake in shares of Fidelity National Financial during the third quarter valued at approximately $26,000. Canton Hathaway LLC purchased a new position in Fidelity National Financial in the fourth quarter worth $26,000. Commonwealth Retirement Investments LLC bought a new position in Fidelity National Financial in the 4th quarter valued at $28,000. Elevation Point Wealth Partners LLC bought a new position in Fidelity National Financial in the 2nd quarter valued at $29,000. Finally, Mather Group LLC. purchased a new stake in shares of Fidelity National Financial during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Stock Down 5.4%

The company has a market capitalization of $14.42 billion, a P/E ratio of 12.30, a PEG ratio of 0.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a 50 day moving average price of $55.18 and a 200 day moving average price of $57.20.

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.