Fidelity National Financial (NYSE:FNF) Trading 6.3% Higher on Earnings Beat

Fidelity National Financial, Inc. (NYSE:FNF) shares traded up 6.3% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $61.86 and last traded at $61.19. 236,202 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 876,731 shares. The stock had previously closed at $57.57.

The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.23 by $0.11. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.33 billion. Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. During the same quarter in the prior year, the company posted $0.75 earnings per share.

Fidelity National Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 3.36%. Fidelity National Financial’s dividend payout ratio is currently 43.01%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FNF. Keefe, Bruyette & Woods decreased their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $77.00 in a report on Friday, January 3rd. Finally, Truist Financial raised their price objective on shares of Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.40.

Insiders Place Their Bets

In other Fidelity National Financial news, Director Sandra Douglass Morgan sold 2,092 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $56.33, for a total transaction of $117,842.36. Following the completion of the transaction, the director now owns 32,386 shares in the company, valued at $1,824,303.38. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Halim Dhanidina sold 2,800 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $54.85, for a total transaction of $153,580.00. Following the transaction, the director now owns 16,716 shares of the company’s stock, valued at $916,872.60. This represents a 14.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Financial

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Fidelity National Financial in the third quarter valued at approximately $32,000. Capital Analysts LLC bought a new position in shares of Fidelity National Financial in the fourth quarter valued at approximately $29,000. Brooklyn Investment Group bought a new position in shares of Fidelity National Financial in the third quarter valued at approximately $35,000. Parkside Financial Bank & Trust boosted its position in shares of Fidelity National Financial by 50.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 622 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 209 shares during the period. Finally, Kestra Investment Management LLC bought a new position in shares of Fidelity National Financial in the fourth quarter valued at approximately $37,000. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Price Performance

The business’s 50-day moving average price is $57.25 and its 200 day moving average price is $59.00. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $16.28 billion, a P/E ratio of 12.80 and a beta of 1.39.

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.