Fidelity National Financial Inc (NYSE:FNF) – Piper Jaffray Companies cut their FY2018 earnings estimates for shares of Fidelity National Financial in a research note issued on Thursday, October 25th, according to Zacks Investment Research. Piper Jaffray Companies analyst J. Deleeuw now expects that the financial services provider will post earnings of $2.75 per share for the year, down from their previous forecast of $2.78. Piper Jaffray Companies also issued estimates for Fidelity National Financial’s Q4 2018 earnings at $0.68 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.89 EPS, Q3 2019 earnings at $0.85 EPS and FY2019 earnings at $3.00 EPS.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. Fidelity National Financial had a return on equity of 16.32% and a net margin of 10.54%. Fidelity National Financial’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS.
A number of other brokerages also recently weighed in on FNF. Zacks Investment Research raised Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Monday, August 6th. ValuEngine raised Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Barclays set a $43.00 price target on Fidelity National Financial and gave the stock a “buy” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Fidelity National Financial has an average rating of “Hold” and an average price target of $43.40.
NYSE FNF traded up $0.35 during trading on Monday, reaching $32.65. 1,339,617 shares of the company’s stock were exchanged, compared to its average volume of 1,374,848. The company has a market cap of $8.89 billion, a PE ratio of 14.38 and a beta of 0.92. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. Fidelity National Financial has a fifty-two week low of $31.14 and a fifty-two week high of $42.52.
Several hedge funds have recently modified their holdings of FNF. Stifel Financial Corp boosted its stake in shares of Fidelity National Financial by 34.4% in the first quarter. Stifel Financial Corp now owns 12,590 shares of the financial services provider’s stock valued at $506,000 after buying an additional 3,223 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Fidelity National Financial by 3.0% in the first quarter. Principal Financial Group Inc. now owns 17,034,893 shares of the financial services provider’s stock valued at $681,736,000 after buying an additional 500,930 shares during the period. Jane Street Group LLC bought a new stake in shares of Fidelity National Financial in the first quarter valued at approximately $528,000. LPL Financial LLC boosted its stake in shares of Fidelity National Financial by 17.5% in the first quarter. LPL Financial LLC now owns 41,642 shares of the financial services provider’s stock valued at $1,667,000 after buying an additional 6,203 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Fidelity National Financial by 5.3% in the first quarter. Royal Bank of Canada now owns 105,840 shares of the financial services provider’s stock valued at $4,235,000 after buying an additional 5,333 shares during the period. Institutional investors and hedge funds own 84.23% of the company’s stock.
In other news, Director Cary H. Thompson sold 85,639 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $40.10, for a total value of $3,434,123.90. Following the transaction, the director now owns 74,000 shares of the company’s stock, valued at $2,967,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Rood bought 31,200 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was purchased at an average cost of $32.51 per share, for a total transaction of $1,014,312.00. Following the transaction, the director now directly owns 43,681 shares of the company’s stock, valued at approximately $1,420,069.31. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, December 13th. Fidelity National Financial’s payout ratio is 52.86%.
About Fidelity National Financial
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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