Fidelity National Financial (NYSE:FNF) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Fidelity National Financial (NYSE:FNF) posted its quarterly earnings data on Thursday. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20, Zacks reports. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS.

Fidelity National Financial Price Performance

Shares of NYSE:FNF traded up $2.47 on Friday, reaching $57.03. The company’s stock had a trading volume of 2,573,992 shares, compared to its average volume of 1,470,761. Fidelity National Financial has a 52-week low of $50.61 and a 52-week high of $66.72. The company has a market cap of $15.50 billion, a P/E ratio of 14.47 and a beta of 1.05. The company has a 50-day simple moving average of $57.85 and a 200 day simple moving average of $57.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.6%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, December 17th. Fidelity National Financial’s dividend payout ratio (DPR) is 50.76%.

Wall Street Analysts Forecast Growth

FNF has been the topic of several analyst reports. National Bankshares set a $64.00 price target on shares of Fidelity National Financial in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Fidelity National Financial in a report on Wednesday, October 8th. Finally, Barclays reissued a “cautious” rating on shares of Fidelity National Financial in a report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.83.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. bought a new stake in Fidelity National Financial during the second quarter worth approximately $248,000. Geneos Wealth Management Inc. lifted its stake in shares of Fidelity National Financial by 7.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,781 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 277 shares during the last quarter. Caxton Associates LLP boosted its holdings in shares of Fidelity National Financial by 58.0% in the 2nd quarter. Caxton Associates LLP now owns 14,668 shares of the financial services provider’s stock worth $822,000 after purchasing an additional 5,385 shares during the period. Headlands Technologies LLC bought a new position in shares of Fidelity National Financial during the 2nd quarter valued at approximately $32,000. Finally, JCP Investment Management LLC boosted its stake in Fidelity National Financial by 17.1% during the second quarter. JCP Investment Management LLC now owns 210,899 shares of the financial services provider’s stock worth $11,823,000 after buying an additional 30,799 shares during the period. Institutional investors own 81.17% of the company’s stock.

About Fidelity National Financial

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.