Fidelity National Financial (NYSE:FNF) Releases Quarterly Earnings Results

Fidelity National Financial (NYSE:FNF) released its quarterly earnings results on Wednesday. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by ($0.11), Briefing.com reports. Fidelity National Financial had a return on equity of 14.48% and a net margin of 7.19%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the business earned $1.23 earnings per share. Fidelity National Financial’s revenue for the quarter was up 29.7% on a year-over-year basis.

Fidelity National Financial Stock Down 2.9 %

Shares of NYSE:FNF traded down $1.79 during midday trading on Thursday, reaching $59.10. The company had a trading volume of 1,914,581 shares, compared to its average volume of 1,212,497. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.23 and a quick ratio of 0.23. The stock’s fifty day moving average price is $60.27 and its 200-day moving average price is $54.92. The stock has a market capitalization of $16.16 billion, a P/E ratio of 18.17 and a beta of 1.37. Fidelity National Financial has a one year low of $42.21 and a one year high of $62.97.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.38%. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s payout ratio is 57.31%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Fidelity National Financial from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods raised their target price on shares of Fidelity National Financial from $58.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 4th. Stephens reissued an “overweight” rating and issued a $63.00 target price on shares of Fidelity National Financial in a research report on Thursday, August 15th. Barclays raised their price target on shares of Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Fidelity National Financial from $61.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.40.

Insider Buying and Selling

In other Fidelity National Financial news, Director Halim Dhanidina sold 1,700 shares of Fidelity National Financial stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total value of $103,445.00. Following the completion of the transaction, the director now owns 13,206 shares of the company’s stock, valued at $803,585.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 5.20% of the company’s stock.

About Fidelity National Financial

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 products.