Fidelity National Financial (NYSE:FNF) Trading Down 6% After Earnings Miss

Fidelity National Financial, Inc. (NYSE:FNF) dropped 6% on Friday following a dissappointing earnings announcement. The stock traded as low as $51.76 and last traded at $50.98. Approximately 119,626 shares traded hands during mid-day trading, a decline of 92% from the average daily 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 analysts’ consensus estimates of $1.51 by ($0.10). The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.66 billion. Fidelity National Financial had a net margin of 8.34% and a return on equity of 15.06%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 earnings per share.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Fidelity National Financial in a research report on Monday, December 29th. Stephens began coverage on Fidelity National Financial in a report on Friday, November 14th. They issued an “overweight” rating on the stock. National Bank Financial set a $63.00 price target on Fidelity National Financial in a report on Tuesday, January 6th. Keefe, Bruyette & Woods raised their price objective on Fidelity National Financial from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen downgraded Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Insider Transactions at Fidelity National Financial

In other Fidelity National Financial news, Director Halim Dhanidina sold 6,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 13,186 shares in the company, valued at approximately $737,097.40. This represents a 31.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quent Capital LLC bought a new stake in Fidelity National Financial in the third quarter valued at approximately $26,000. Canton Hathaway LLC bought a new stake in shares of Fidelity National Financial in the 4th quarter valued at $26,000. Commonwealth Retirement Investments LLC bought a new stake in shares of Fidelity National Financial in the 4th quarter valued at $28,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Fidelity National Financial during the second quarter worth $29,000. Finally, Mather Group LLC. acquired a new stake in shares of Fidelity National Financial during the third quarter worth $29,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Price Performance

The firm has a market cap of $14.42 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.71 and a beta of 0.98. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $55.18 and its two-hundred day moving average is $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.