Fidelity National Financial (NYSE:FNF) Hits New 1-Year Low – Here’s What Happened

Fidelity National Financial, Inc. (NYSE:FNF)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $40.76 and last traded at $40.68, with a volume of 59287 shares changing hands. The stock had previously closed at $41.08.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FNF. Stephens reissued an “overweight” rating and issued a $55.00 price target on shares of Fidelity National Financial in a research report on Monday, August 24th. Keefe, Bruyette & Woods lowered their price objective on shares of Fidelity National Financial from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. National Bank Financial set a $54.00 price objective on shares of Fidelity National Financial in a research note on Friday, August 7th. Zacks Research upgraded shares of Fidelity National Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fidelity National Financial in a report on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.00.

Fidelity National Financial Price Performance

The firm has a market cap of $10.88 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.93. The stock’s 50-day moving average is $47.26 and its 200-day moving average is $47.83. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.08. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the business posted $1.16 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts anticipate that Fidelity National Financial, Inc. will post 5.18 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.08 dividend on an annualized basis and a yield of 5.1%. Fidelity National Financial’s dividend payout ratio (DPR) is 73.50%.

Institutional Trading of Fidelity National Financial

A number of hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Fidelity National Financial by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,777,274 shares of the financial services provider’s stock valued at $260,060,000 after purchasing an additional 47,639 shares during the period. Dimensional Fund Advisors LP lifted its position in Fidelity National Financial by 30.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,210,824 shares of the financial services provider’s stock worth $195,287,000 after purchasing an additional 973,891 shares during the period. Norges Bank bought a new position in Fidelity National Financial in the fourth quarter worth $181,017,000. Bank of New York Mellon Corp boosted its stake in Fidelity National Financial by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 2,529,383 shares of the financial services provider’s stock worth $117,313,000 after buying an additional 13,147 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Fidelity National Financial by 12.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,345,756 shares of the financial services provider’s stock valued at $62,416,000 after buying an additional 144,966 shares during the period. Institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc (NYSE:FNF) is a provider of title insurance, escrow and settlement services, and other title-related products in the United States. Through its Fidelity National Title Group businesses, the company helps protect property buyers, lenders and other parties against losses arising from defects in real estate titles and supports the closing of residential and commercial property transactions.

FNF’s title operations include well-known brands such as Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.