Fidelity National Financial (NYSE:FNF) Hits New 52-Week High – Here’s What Happened

Fidelity National Financial, Inc. (NYSE:FNF)’s share price hit a new 52-week high on Monday . The stock traded as high as $63.32 and last traded at $63.32, with a volume of 44545 shares trading hands. The stock had previously closed at $61.94.

Analyst Upgrades and Downgrades

A number of research firms have commented on FNF. Stephens reaffirmed an “overweight” rating and set a $63.00 target price on shares of Fidelity National Financial in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Fidelity National Financial from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Fidelity National Financial from $58.00 to $63.00 and gave the company a “market perform” rating in a research report on Wednesday, September 4th. Finally, Truist Financial lifted their price objective on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 11th. 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, Fidelity National Financial presently has an average rating of “Hold” and a consensus target price of $63.60.

Fidelity National Financial Price Performance

The business’s 50-day simple moving average is $60.77 and its 200 day simple moving average is $55.95. The company has a market capitalization of $17.33 billion, a P/E ratio of 23.03 and a beta of 1.37. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.11). Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the business earned $1.23 EPS. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fidelity National Financial, Inc. will post 4.5 EPS for the current year.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s dividend payout ratio is currently 69.82%.

Insider Activity

In other news, Director Halim Dhanidina sold 1,700 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $60.85, for a total transaction of $103,445.00. Following the sale, the director now directly owns 13,206 shares of the company’s stock, valued at $803,585.10. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.20% of the company’s stock.

Institutional Trading of Fidelity National Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Fidelity National Financial in the 3rd quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Fidelity National Financial in the 2nd quarter worth about $26,000. Brooklyn Investment Group acquired a new position in shares of Fidelity National Financial in the 3rd quarter valued at about $35,000. New Covenant Trust Company N.A. acquired a new stake in shares of Fidelity National Financial during the first quarter worth approximately $30,000. Finally, True Wealth Design LLC acquired a new position in Fidelity National Financial in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Fidelity National Financial Company Profile

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.