Fidelity National Financial (FNF) Trading Down 7.8%

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Fidelity National Financial Inc (NYSE:FNF) was down 7.8% during trading on Thursday . The company traded as low as $34.97 and last traded at $35.01. Approximately 2,929,826 shares were traded during trading, an increase of 128% from the average daily volume of 1,283,039 shares. The stock had previously closed at $37.99.

A number of equities research analysts recently commented on FNF shares. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Monday, August 6th. Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a report on Monday, July 16th. Finally, ValuEngine raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.50.

The firm has a market capitalization of $10.82 billion, a PE ratio of 15.44 and a beta of 0.76. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The business had revenue of $2.12 million during the quarter, compared to analysts’ expectations of $2.11 billion. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. Analysts predict that Fidelity National Financial Inc will post 2.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. Fidelity National Financial’s dividend payout ratio is currently 52.86%.

Fidelity National Financial declared that its board has initiated a share buyback program on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other Fidelity National Financial news, Director Cary H. Thompson sold 85,639 shares of the firm’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $40.10, for a total value of $3,434,123.90. Following the completion of the transaction, the director now owns 74,000 shares of the company’s stock, valued at $2,967,400. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger S. Jewkes sold 43,409 shares of the firm’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $39.79, for a total transaction of $1,727,244.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,548 shares of company stock valued at $8,875,866. Corporate insiders own 6.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc purchased a new position in shares of Fidelity National Financial during the second quarter worth $168,000. Cerebellum GP LLC raised its holdings in shares of Fidelity National Financial by 100.1% during the third quarter. Cerebellum GP LLC now owns 4,514 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 2,258 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Fidelity National Financial during the second quarter worth $200,000. Capital One National Association purchased a new position in shares of Fidelity National Financial during the second quarter worth $202,000. Finally, Park National Corp OH purchased a new position in shares of Fidelity National Financial during the third quarter worth $206,000. 82.45% of the stock is owned by institutional investors and hedge funds.

About Fidelity National Financial (NYSE:FNF)

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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