Fidelity National Financial (NYSE:FNF) Reaches New 12-Month High – Still a Buy?

Fidelity National Financial, Inc. (NYSE:FNF) shares hit a new 52-week high on Tuesday . The company traded as high as $62.23 and last traded at $61.99, with a volume of 72638 shares. The stock had previously closed at $61.02.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FNF. Truist Financial lifted their target price on shares of Fidelity National Financial from $62.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Barclays lifted their price objective on Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $63.00 price target on shares of Fidelity National Financial in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fidelity National Financial from $58.00 to $63.00 and gave the company a “market perform” rating in a research report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.40.

Fidelity National Financial Stock Down 0.2 %

The company’s 50 day moving average price is $59.20 and its two-hundred day moving average price is $53.84. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.12 billion, a P/E ratio of 20.60 and a beta of 1.36.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.03). Fidelity National Financial had a return on equity of 14.48% and a net margin of 7.19%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Fidelity National Financial’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Fidelity National Financial, Inc. will post 4.53 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Monday, September 16th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 63.16%.

Insiders Place Their Bets

In related news, Director Halim Dhanidina sold 1,700 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total transaction of $103,445.00. Following the completion of the transaction, the director now directly owns 13,206 shares of the company’s stock, valued at approximately $803,585.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fidelity National Financial

Several institutional investors have recently added to or reduced their stakes in FNF. V Square Quantitative Management LLC bought a new stake in Fidelity National Financial in the fourth quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Fidelity National Financial in the 2nd quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in shares of Fidelity National Financial in the 1st quarter worth approximately $30,000. Covestor Ltd increased its position in shares of Fidelity National Financial by 109.0% during the 1st quarter. Covestor Ltd now owns 581 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 303 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Fidelity National Financial by 231.0% during the 1st quarter. Salomon & Ludwin LLC now owns 609 shares of the financial services provider’s stock valued at $32,000 after buying an additional 425 shares during the period. Hedge funds and other 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.