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

Fidelity National Financial, Inc. (NYSE:FNF)’s share price traded up 6.3% on Friday following a stronger than expected earnings report. The company traded as high as $61.86 and last traded at $61.19. 236,202 shares changed hands during 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 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share.

Fidelity National Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid 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 43.01%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $76.00 to $77.00 in a research report on Friday, January 3rd. Finally, Truist Financial lifted their target price on Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Fidelity National Financial presently has a consensus rating of “Moderate Buy” and an average price target of $66.40.

Insider Buying and Selling

In related news, Director Sandra Douglass Morgan sold 2,092 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $56.33, for a total transaction of $117,842.36. Following the transaction, the director now directly owns 32,386 shares of the company’s stock, valued at $1,824,303.38. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Halim Dhanidina sold 2,800 shares of the stock in a transaction on 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 directly owns 16,716 shares in the company, valued at approximately $916,872.60. This represents a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of Fidelity National Financial in the third quarter valued at $32,000. Capital Analysts LLC bought a new position in shares of Fidelity National Financial in the fourth quarter valued at $29,000. Brooklyn Investment Group bought a new position in shares of Fidelity National Financial in the third quarter valued at $35,000. Parkside Financial Bank & Trust lifted its stake 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 buying an additional 209 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Fidelity National Financial in the fourth quarter valued at $37,000. 81.17% of the stock is owned by institutional investors.

Fidelity National Financial Price Performance

The stock has a market capitalization of $16.28 billion, a P/E ratio of 12.80 and a beta of 1.39. The business’s 50 day simple moving average is $57.25 and its two-hundred day simple moving average 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.

About Fidelity National Financial

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.