Fidelity National Financial (NYSE:FNF) Issues Earnings Results

Fidelity National Financial (NYSE:FNF) announced its quarterly earnings results on Wednesday. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08, FiscalAI reports. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the company posted $1.16 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis.

Fidelity National Financial Stock Down 0.6%

NYSE:FNF traded down $0.32 during midday trading on Wednesday, reaching $51.19. The company had a trading volume of 1,655,537 shares, compared to its average volume of 1,492,745. The stock’s fifty day simple moving average is $48.89 and its 200-day simple moving average is $49.95. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. Fidelity National Financial has a 12-month low of $42.78 and a 12-month high of $61.40. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 0.77 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. National Bank Financial set a $51.00 price objective on shares of Fidelity National Financial in a report on Tuesday, July 7th. Barclays upped their target price on shares of Fidelity National Financial from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Stephens dropped their target price on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Finally, Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.00.

Insider Buying and Selling

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the sale, the executive vice president directly owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. This represents a 92.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fidelity National Financial

Several large investors have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in Fidelity National Financial during the 2nd quarter worth about $32,000. Atlas Capital Advisors Inc. acquired a new position in shares of Fidelity National Financial during the 4th quarter worth about $61,000. Quarry LP purchased a new position in shares of Fidelity National Financial in the 4th quarter valued at about $71,000. Quadrant Capital Group LLC acquired a new stake in Fidelity National Financial during the third quarter worth approximately $111,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Fidelity National Financial by 146.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,044 shares of the financial services provider’s stock worth $124,000 after buying an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

About Fidelity National Financial

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.