Fidelity National Financial (NYSE:FNF) Issues Earnings Results

Fidelity National Financial (NYSE:FNF) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08, FiscalAI reports. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the business posted $1.16 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis.

Fidelity National Financial Price Performance

NYSE FNF traded down $0.32 during trading on Wednesday, reaching $51.19. 1,655,537 shares of the company traded hands, compared to its average volume of 1,492,745. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 0.77 and a beta of 0.95. Fidelity National Financial has a 1-year low of $42.78 and a 1-year high of $61.40. The stock’s 50 day moving average price is $48.89 and its two-hundred day moving average price is $49.95.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Barclays upped their target price on shares of Fidelity National Financial from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. National Bank Financial set a $51.00 price target on shares of Fidelity National Financial in a report on Tuesday, July 7th. Zacks Research lowered shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Finally, Stephens dropped their price objective on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

Insider Activity at Fidelity National Financial

In other news, EVP Peter T. Sadowski sold 69,196 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the sale, the executive vice president owned 5,702 shares in the company, valued at approximately $260,581.40. The trade was a 92.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Financial

A number of large investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Fidelity National Financial during the second quarter valued at $32,000. Atlas Capital Advisors Inc. bought a new position in Fidelity National Financial during the 4th quarter worth approximately $61,000. Quarry LP acquired a new position in Fidelity National Financial during the fourth quarter valued at approximately $71,000. Quadrant Capital Group LLC acquired a new stake in Fidelity National Financial in the third quarter worth $111,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Fidelity National Financial by 146.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,044 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 1,213 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Financial Company Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.