Fidelity National Financial, Inc. (NYSE:FNF – Get Rating) declared a quarterly dividend on Tuesday, May 10th, RTT News reports. Investors of record on Thursday, June 16th will be paid a dividend of 0.44 per share by the financial services provider on Thursday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 4.44%.
Fidelity National Financial has increased its dividend by an average of 9.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Fidelity National Financial has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fidelity National Financial to earn $6.74 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 26.1%.
Shares of NYSE FNF traded down $0.72 during midday trading on Tuesday, hitting $39.65. 5,548,279 shares of the company traded hands, compared to its average volume of 2,371,942. Fidelity National Financial has a 12-month low of $38.87 and a 12-month high of $56.44. 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 stock has a 50-day moving average price of $45.14 and a 200 day moving average price of $48.59. The firm has a market cap of $11.24 billion, a P/E ratio of 4.78 and a beta of 1.42.
Fidelity National Financial (NYSE:FNF – Get Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.56. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Fidelity National Financial had a net margin of 15.48% and a return on equity of 25.23%. Fidelity National Financial’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.01 earnings per share. As a group, equities analysts expect that Fidelity National Financial will post 6.28 earnings per share for the current year.
A number of equities research analysts have weighed in 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 on the stock in a report on Tuesday, April 12th. Credit Suisse Group cut their price objective on shares of Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, April 1st. StockNews.com assumed coverage on shares of Fidelity National Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Monday, February 28th. Finally, BTIG Research initiated coverage on shares of Fidelity National Financial in a report on Wednesday, February 2nd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $61.67.
In other news, COO Roger S. Jewkes sold 7,438 shares of the company’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $50.01, for a total value of $371,974.38. Following the transaction, the chief operating officer now owns 104,246 shares in the company, valued at $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.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Allianz Asset Management GmbH lifted its position in Fidelity National Financial by 109.7% during the fourth quarter. Allianz Asset Management GmbH now owns 649,999 shares of the financial services provider’s stock valued at $33,917,000 after purchasing an additional 339,959 shares during the period. California State Teachers Retirement System lifted its position in 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 purchasing an additional 3,730 shares during the period. Stifel Financial Corp lifted its position in Fidelity National Financial by 1.8% during the fourth quarter. Stifel Financial Corp now owns 109,886 shares of the financial services provider’s stock valued at $5,734,000 after purchasing an additional 1,906 shares during the period. Marshall Wace LLP bought a new position in Fidelity National Financial during the fourth quarter valued at approximately $5,112,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Fidelity National Financial during the fourth quarter valued at approximately $791,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.
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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