Fidelity National Financial, Inc. (NYSE:FNF) Short Interest Down 29.1% in April

Fidelity National Financial, Inc. (NYSE:FNF – Get Rating) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totalling 4,020,000 shares, a decrease of 29.1% from the April 15th total of 5,670,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,380,000 shares, the days-to-cover ratio is presently 1.7 days.

In related 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 transaction of $371,974.38. Following the sale, the chief operating officer now owns 104,246 shares of the company’s stock, valued at $5,213,342.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Versor Investments LP bought a new position in Fidelity National Financial during the 4th quarter worth $327,000. Clough Capital Partners L P bought a new position in Fidelity National Financial during the 3rd quarter worth $46,537,000. abrdn plc raised its position in Fidelity National Financial by 0.8% during the 4th quarter. abrdn plc now owns 74,906 shares of the financial services provider’s stock worth $3,909,000 after purchasing an additional 565 shares during the last quarter. OLD Mission Capital LLC bought a new position in Fidelity National Financial during the 4th quarter worth $5,954,000. Finally, Korea Investment CORP raised its position in Fidelity National Financial by 99.4% during the 4th quarter. Korea Investment CORP now owns 407,900 shares of the financial services provider’s stock worth $21,284,000 after purchasing an additional 203,300 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Shares of FNF traded up $1.29 during trading hours on Tuesday, reaching $42.25. The stock had a trading volume of 22,186 shares, compared to its average volume of 2,322,994. Fidelity National Financial has a 12 month low of $38.87 and a 12 month high of $56.44. The stock has a market capitalization of $11.86 billion, a PE ratio of 5.28 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.19 and a current ratio of 0.19. The company’s 50-day moving average is $44.50 and its two-hundred day moving average is $48.30.

Fidelity National Financial (NYSE:FNF – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The financial services provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Fidelity National Financial had a return on equity of 24.56% and a net margin of 14.10%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the company earned $1.56 EPS. Fidelity National Financial’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Fidelity National Financial will post 6.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, June 15th. Fidelity National Financial’s payout ratio is 22.68%.

A number of equities research analysts have weighed in on the company. BTIG Research assumed coverage on Fidelity National Financial in a report on Wednesday, February 2nd. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods raised their target price on Fidelity National Financial to $62.00 and gave the company a “na” rating in a report on Monday. Zacks Investment Research downgraded Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday. Barclays reduced their target price on Fidelity National Financial from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, April 12th. Finally, Credit Suisse Group reduced their target price on Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, April 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.75.

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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