Fidelity National Financial (NYSE:FNF) Stock Price Up 6.3% on Better-Than-Expected Earnings

Shares of Fidelity National Financial, Inc. (NYSE:FNF) rose 6.3% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $61.86 and last traded at $61.19. Approximately 236,202 shares were traded during trading, a decline of 73% from the average daily 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 return on equity of 13.72% and a net margin of 5.57%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $0.75 EPS.

Fidelity National Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.36%. Fidelity National Financial’s dividend payout ratio is 72.73%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Sandra Douglass Morgan sold 2,092 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $56.33, for a total value of $117,842.36. Following the completion of the transaction, the director now directly owns 32,386 shares of the company’s stock, valued at approximately $1,824,303.38. This represents a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Halim Dhanidina sold 2,800 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $54.85, for a total value of $153,580.00. Following the completion of the transaction, the director now directly owns 16,716 shares of the company’s stock, valued at approximately $916,872.60. The trade was a 14.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Fidelity National Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FNF. Capital Analysts LLC acquired a new stake in Fidelity National Financial during the 4th quarter valued at $29,000. Capital Performance Advisors LLP acquired a new stake in Fidelity National Financial during the 3rd quarter valued at $32,000. Brooklyn Investment Group acquired a new stake in Fidelity National Financial during the 3rd quarter valued at $35,000. Parkside Financial Bank & Trust increased its stake in shares of Fidelity National Financial by 50.6% in the 4th 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 during the period. Finally, Kestra Investment Management LLC acquired a new stake in shares of Fidelity National Financial in the 4th quarter valued at $37,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Price Performance

The company has a 50 day moving average price of $57.26 and a 200 day moving average price of $58.96. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 21.64 and a beta of 1.39. The company has a current ratio of 0.24, a quick 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.