Fidelity National Financial (NYSE:FNF) Reaches New 1-Year High – Here’s What Happened

Shares of Fidelity National Financial, Inc. (NYSE:FNF) reached a new 52-week high on Tuesday . The stock traded as high as $65.79 and last traded at $65.65, with a volume of 411994 shares. The stock had previously closed at $64.88.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stephens boosted their target price on Fidelity National Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft raised Fidelity National Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $77.00 in a research note on Friday, January 3rd. Keefe, Bruyette & Woods lowered their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. StockNews.com cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Barclays increased their target price on Fidelity National Financial from $61.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.40.

Fidelity National Financial Stock Performance

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’s 50 day moving average price is $60.12 and its 200 day moving average price is $59.91. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 14.02 and a beta of 1.32.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Thursday, February 20th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.33 billion. Fidelity National Financial had a return on equity of 15.36% and a net margin of 9.28%. During the same period last year, the company earned $0.75 earnings per share. Analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 3.07%. Fidelity National Financial’s payout ratio is 43.01%.

Insiders Place Their Bets

In other news, Director Halim Dhanidina sold 2,800 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $54.85, for a total value of $153,580.00. Following the sale, the director now directly owns 16,716 shares of the company’s stock, valued at approximately $916,872.60. This represents a 14.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Fidelity National Financial

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Fidelity National Financial during the 4th quarter worth approximately $158,386,000. Invesco Ltd. increased its holdings in shares of Fidelity National Financial by 53.3% in the fourth quarter. Invesco Ltd. now owns 2,199,684 shares of the financial services provider’s stock valued at $123,490,000 after purchasing an additional 764,958 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Fidelity National Financial by 99.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,437,460 shares of the financial services provider’s stock valued at $80,689,000 after purchasing an additional 715,070 shares during the period. AQR Capital Management LLC lifted its stake in shares of Fidelity National Financial by 135.8% during the 4th quarter. AQR Capital Management LLC now owns 1,167,485 shares of the financial services provider’s stock worth $65,543,000 after buying an additional 672,323 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Fidelity National Financial during the 4th quarter worth about $33,103,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

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.