Fidelity National Financial (NYSE:FNF) Sets New 1-Year High – Here’s Why

Fidelity National Financial, Inc. (NYSE:FNF) shares 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 equities analysts have recently commented on FNF shares. Barclays lifted 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 research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Stephens reiterated an “overweight” rating and set a $63.00 price target on shares of Fidelity National Financial in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price target on shares of Fidelity National Financial from $58.00 to $63.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 4th. Finally, Truist Financial boosted their target price on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.60.

Fidelity National Financial Trading Up 3.8 %

The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $17.60 billion, a P/E ratio of 22.52 and a beta of 1.37. The business’s fifty day simple moving average is $60.66 and its 200 day simple moving average is $55.78.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, analysts expect that Fidelity National Financial, Inc. will post 4.5 EPS for the current year.

Fidelity National Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 3.11%. Fidelity National Financial’s dividend payout ratio is presently 69.82%.

Insider Activity at Fidelity National Financial

In other news, Director Halim Dhanidina sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total transaction of $103,445.00. Following the completion of the transaction, the director now directly owns 13,206 shares of the company’s stock, valued at $803,585.10. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fidelity National Financial

Several hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new position in shares of Fidelity National Financial in the second quarter valued at $26,000. New Covenant Trust Company N.A. bought a new position in shares of Fidelity National Financial in the first quarter valued at $30,000. Capital Performance Advisors LLP bought a new position in shares of Fidelity National Financial in the third quarter valued at $32,000. International Assets Investment Management LLC bought a new position in shares of Fidelity National Financial in the second quarter valued at $35,000. Finally, Brooklyn Investment Group bought a new position in shares of Fidelity National Financial in the third quarter valued at $35,000. 81.17% of the stock is owned by institutional investors.

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.