Fidelity National Financial (NYSE:FNF) Stock Falls 6.2% – What’s Next?

Shares of Fidelity National Financial, Inc. (NYSE:FNF) were down 6.2% during mid-day trading on Wednesday. The company traded as low as $38.70 and last traded at $38.6020. 1,082,223 shares were traded during trading, a decline of 41% from the average daily volume of 1,847,246 shares. The stock had previously closed at $41.16.

Analyst Ratings Changes

A number of equities analysts recently commented on FNF shares. National Bank Financial set a $54.00 price objective on shares of Fidelity National Financial in a research note on Friday, August 7th. Keefe, Bruyette & Woods cut their target price on shares of Fidelity National Financial from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Monday, August 10th. Zacks Research upgraded Fidelity National Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 26th. Barclays raised their target price on Fidelity National Financial from $51.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Fidelity National Financial in a report on Tuesday, September 8th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.00.

Fidelity National Financial Stock Down 6.2%

The business’s 50-day moving average price is $47.06 and its 200-day moving average price is $47.79. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $10.35 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.61 and a beta of 0.93.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.79 billion. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, equities research analysts predict that Fidelity National Financial, Inc. will post 5.18 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.4%. Fidelity National Financial’s dividend payout ratio (DPR) is 73.50%.

Hedge Funds Weigh In On Fidelity National Financial

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Fidelity National Financial during the fourth quarter valued at $181,017,000. Bank of New York Mellon Corp acquired a new position in Fidelity National Financial in the 2nd quarter worth about $112,882,000. Dimensional Fund Advisors LP increased its position in Fidelity National Financial by 30.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,210,824 shares of the financial services provider’s stock worth $195,287,000 after purchasing an additional 973,891 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Fidelity National Financial by 70.3% during the 1st quarter. Hsbc Holdings PLC now owns 896,177 shares of the financial services provider’s stock worth $41,524,000 after purchasing an additional 369,908 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Fidelity National Financial by 74.4% during the 2nd quarter. Squarepoint Ops LLC now owns 688,380 shares of the financial services provider’s stock worth $32,464,000 after purchasing an additional 293,761 shares in the last quarter. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc (NYSE:FNF) is a leading provider of title insurance and transaction services in the United States. Through its title insurance companies, the company helps protect property owners and lenders against losses arising from defects in property titles and supports the closing of residential and commercial real estate transactions.

FNF operates a portfolio of well-known title brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.