Fidelity National Financial, Inc. (NYSE:FNF – Get Rating) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 5,670,000 shares, a growth of 25.7% from the March 31st total of 4,510,000 shares. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is currently 2.3 days. Currently, 2.1% of the shares of the stock are short sold.
A number of brokerages recently weighed in on FNF. Credit Suisse Group lowered their target price on shares of Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, April 1st. BTIG Research started coverage on shares of Fidelity National Financial in a report on Wednesday, February 2nd. They set a “neutral” rating for the company. StockNews.com assumed coverage on Fidelity National Financial in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays dropped their price target on Fidelity National Financial from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday, April 12th. Finally, Zacks Investment Research upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Monday, February 28th. Two research 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 currently has an average rating of “Buy” and an average target price of $61.67.
Shares of NYSE:FNF opened at $39.88 on Tuesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.33. The stock has a market cap of $11.31 billion, a PE ratio of 4.73 and a beta of 1.37. The company’s fifty day moving average is $45.69 and its 200 day moving average is $48.89. Fidelity National Financial has a 52 week low of $39.24 and a 52 week high of $56.44.
Fidelity National Financial (NYSE:FNF – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.56. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Fidelity National Financial had a return on equity of 25.23% and a net margin of 15.48%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm earned $2.01 earnings per share. Sell-side analysts anticipate that Fidelity National Financial will post 6.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 17th were given a $0.44 dividend. The ex-dividend date was Wednesday, March 16th. This represents a $1.76 annualized dividend and a yield of 4.41%. Fidelity National Financial’s payout ratio is currently 20.85%.
In other news, COO Roger S. Jewkes sold 7,438 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $5,213,342.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.20% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in FNF. Concord Wealth Partners raised its holdings in Fidelity National Financial by 673.0% during the 4th quarter. Concord Wealth Partners now owns 487 shares of the financial services provider’s stock valued at $25,000 after buying an additional 424 shares during the last quarter. Horan Securities Inc. bought a new position in shares of Fidelity National Financial during the fourth quarter valued at about $26,000. IronBridge Private Wealth LLC purchased a new stake in shares of Fidelity National Financial during the fourth quarter worth about $26,000. Bank of New Hampshire bought a new stake in shares of Fidelity National Financial in the first quarter worth about $29,000. Finally, Assetmark Inc. increased its holdings in Fidelity National Financial by 134.5% during the 3rd quarter. Assetmark Inc. now owns 652 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 374 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.
About Fidelity National Financial (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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