Investors Purchase Large Volume of Fidelity National Financial Call Options (NYSE:FNF)

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Fidelity National Financial Inc (NYSE:FNF) was the target of unusually large options trading activity on Thursday. Traders bought 1,929 call options on the stock. This represents an increase of 2,656% compared to the typical daily volume of 70 call options.

In related news, EVP Michael L. Gravelle sold 138,845 shares of Fidelity National Financial stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $44.14, for a total transaction of $6,128,618.30. Following the sale, the executive vice president now directly owns 312,112 shares in the company, valued at approximately $13,776,623.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter T. Sadowski sold 64,883 shares of Fidelity National Financial stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $43.86, for a total transaction of $2,845,768.38. Following the sale, the executive vice president now owns 127,795 shares in the company, valued at $5,605,088.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 317,975 shares of company stock worth $14,019,210. 6.20% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hancock Whitney Corp increased its stake in shares of Fidelity National Financial by 2.1% in the 2nd quarter. Hancock Whitney Corp now owns 20,500 shares of the financial services provider’s stock valued at $826,000 after acquiring an additional 414 shares in the last quarter. BlackRock Inc. increased its stake in shares of Fidelity National Financial by 3.1% in the 2nd quarter. BlackRock Inc. now owns 16,601,963 shares of the financial services provider’s stock valued at $669,060,000 after acquiring an additional 504,631 shares in the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Fidelity National Financial in the 2nd quarter valued at $36,000. Colony Group LLC bought a new stake in shares of Fidelity National Financial in the 2nd quarter valued at $4,708,000. Finally, Royal Bank of Canada increased its stake in shares of Fidelity National Financial by 1.0% in the 2nd quarter. Royal Bank of Canada now owns 597,095 shares of the financial services provider’s stock valued at $24,062,000 after acquiring an additional 6,173 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.

Shares of NYSE FNF traded down $0.74 during midday trading on Friday, reaching $43.30. The stock had a trading volume of 1,132,529 shares, compared to its average volume of 1,173,395. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 16.04 and a beta of 0.84. Fidelity National Financial has a twelve month low of $29.50 and a twelve month high of $45.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50 day moving average price is $43.79 and its 200 day moving average price is $39.96.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. Equities analysts forecast that Fidelity National Financial will post 2.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.31 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. Fidelity National Financial’s dividend payout ratio (DPR) is currently 45.93%.

Several equities research analysts recently commented on FNF shares. Susquehanna Bancshares started coverage on shares of Fidelity National Financial in a research report on Wednesday, June 19th. They set a “positive” rating and a $48.00 target price on the stock. Compass Point upgraded shares of Fidelity National Financial from a “neutral” rating to a “buy” rating in a research report on Monday, July 8th. Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.54.

About Fidelity National Financial

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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