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

Fidelity National Financial (NYSE:FNF) announced its earnings results on Thursday. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20, Zacks reports. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.57 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS.

Fidelity National Financial Trading Up 4.5%

FNF traded up $2.47 during trading on Friday, reaching $57.03. 2,573,992 shares of the stock traded hands, compared to its average volume of 1,470,761. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average is $57.85 and its 200 day moving average is $57.55. Fidelity National Financial has a 12 month low of $50.61 and a 12 month high of $66.72. The stock has a market capitalization of $15.50 billion, a PE ratio of 14.47 and a beta of 1.05.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a $0.52 dividend. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, December 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. Fidelity National Financial’s dividend payout ratio is presently 50.76%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Fidelity National Financial in a research note on Wednesday, October 8th. National Bankshares set a $64.00 price target on Fidelity National Financial in a research report on Monday, October 6th. Finally, Barclays reaffirmed a “cautious” rating on shares of Fidelity National Financial in a research note on Monday, October 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Fidelity National Financial presently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNF. Goldman Sachs Group Inc. increased its stake in Fidelity National Financial by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 629,616 shares of the financial services provider’s stock valued at $40,975,000 after buying an additional 47,267 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Fidelity National Financial by 141.9% in the first quarter. Acadian Asset Management LLC now owns 14,478 shares of the financial services provider’s stock valued at $941,000 after acquiring an additional 8,494 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Fidelity National Financial by 2.0% in the second quarter. Invesco Ltd. now owns 820,180 shares of the financial services provider’s stock valued at $45,979,000 after acquiring an additional 16,440 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Fidelity National Financial during the second quarter valued at approximately $339,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Fidelity National Financial by 2.4% during the second quarter. Daiwa Securities Group Inc. now owns 21,396 shares of the financial services provider’s stock worth $1,199,000 after acquiring an additional 500 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.