Fidelity National Financial (NYSE:FNF) Announces Earnings Results

Fidelity National Financial (NYSE:FNF – Get Rating) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.07, MarketWatch Earnings reports. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Fidelity National Financial had a return on equity of 25.23% and a net margin of 15.48%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 EPS.

NYSE FNF traded down $0.72 during trading on Tuesday, reaching $39.65. 5,543,919 shares of the company traded hands, compared to its average volume of 2,371,942. Fidelity National Financial has a 1-year low of $38.87 and a 1-year high of $56.44. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 4.70 and a beta of 1.42. The stock’s 50 day moving average price is $44.98 and its two-hundred day moving average price is $48.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.20 and a current ratio of 0.20.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.44%. Fidelity National Financial’s dividend payout ratio is 20.85%.

Several brokerages have commented on FNF. Credit Suisse Group dropped their price target on Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating on the stock in a research report on Friday, April 1st. Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, February 28th. StockNews.com initiated coverage on shares of Fidelity National Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays cut their price objective on shares of Fidelity National Financial from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Finally, BTIG Research started coverage on Fidelity National Financial in a report on Wednesday, February 2nd. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $61.67.

In other news, COO Roger S. Jewkes sold 7,438 shares of the stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $50.01, for a total value of $371,974.38. Following the completion of the transaction, the chief operating officer now directly owns 104,246 shares of the company’s stock, valued at approximately $5,213,342.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of Fidelity National Financial by 16.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,385,252 shares of the financial services provider’s stock worth $72,283,000 after purchasing an additional 200,056 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Fidelity National Financial by 109.7% in the 4th quarter. Allianz Asset Management GmbH now owns 649,999 shares of the financial services provider’s stock valued at $33,917,000 after buying an additional 339,959 shares during the period. California State Teachers Retirement System lifted its stake in shares of Fidelity National Financial by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 486,794 shares of the financial services provider’s stock valued at $25,401,000 after acquiring an additional 3,730 shares during the period. Stifel Financial Corp increased its position in Fidelity National Financial by 1.8% in the fourth quarter. Stifel Financial Corp now owns 109,886 shares of the financial services provider’s stock worth $5,734,000 after purchasing an additional 1,906 shares during the period. Finally, Marshall Wace LLP acquired a new position in Fidelity National Financial during the 4th quarter valued at about $5,112,000. 82.06% of the stock is currently owned by institutional investors.

Fidelity National Financial Company Profile (Get Rating)

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 insurance.

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