Fidelity National Financial, Inc. (NYSE:FNF) Increases Dividend to $0.54 Per Share

Fidelity National Financial, Inc. (NYSE:FNF) announced a quarterly dividend on Friday, November 6th. Stockholders of record on Thursday, December 17th will be paid a dividend of $0.54 per share by the financial services provider on Thursday, December 31st. This represents a $2.16 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Thursday, December 17th. This is a 3.8% increase from Fidelity National Financial’s previous quarterly dividend of $0.52.

Fidelity National Financial has increased its dividend payment by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 1 years. Fidelity National Financial has a dividend payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Fidelity National Financial to earn $5.75 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 36.2%.

Fidelity National Financial Price Performance

NYSE FNF traded up $0.88 on Friday, reaching $43.77. The company’s stock had a trading volume of 4,333,170 shares, compared to its average volume of 1,973,759. The firm has a market cap of $11.74 billion, a PE ratio of 15.45 and a beta of 0.93. The business has a 50-day moving average price of $41.88 and a 200 day moving average price of $47.81. Fidelity National Financial has a 52 week low of $37.88 and a 52 week high of $60.37. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Friday, November 6th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.32. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.78 billion. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. During the same quarter in the prior year, the business posted $1.63 earnings per share. Sell-side analysts expect that Fidelity National Financial will post 5.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Fidelity National Financial in a research note on Tuesday, September 8th. Zacks Research downgraded Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, October 23rd. Truist Financial cut their target price on Fidelity National Financial from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, October 15th. National Bank Financial set a $54.00 price target on Fidelity National Financial in a research note on Friday, August 7th. Finally, Stephens lowered their price target on Fidelity National Financial from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.20.

About Fidelity National Financial

Fidelity National Financial, Inc (NYSE:FNF) is a provider of title insurance and transaction services in the United States. Through its title insurance businesses, the company protects property buyers, lenders and other parties against certain risks associated with real estate ownership and transfers. Its services include title searches, title examinations, escrow and closing services, and related technology and transaction-support solutions.

FNF operates through a group of title insurance brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.