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

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

Fidelity National Financial Trading Up 4.5%

FNF traded up $2.47 during midday trading on Friday, hitting $57.03. 2,573,992 shares of the company were exchanged, compared to its average volume of 1,470,761. The firm’s 50 day moving average price is $57.85 and its 200-day moving average price is $57.55. 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 firm has a market capitalization of $15.50 billion, a P/E ratio of 14.47 and a beta of 1.05. Fidelity National Financial has a 1-year low of $50.61 and a 1-year high of $66.72.

Fidelity National Financial Increases Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Fidelity National Financial

Several large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in Fidelity National Financial by 7.9% during 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Fidelity National Financial by 4.0% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,652 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 334 shares during the last quarter. Two Sigma Securities LLC increased its holdings in Fidelity National Financial by 1.9% during the 2nd quarter. Two Sigma Securities LLC now owns 18,716 shares of the financial services provider’s stock worth $1,049,000 after purchasing an additional 357 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Fidelity National Financial by 2.4% in the second quarter. Daiwa Securities Group Inc. now owns 21,396 shares of the financial services provider’s stock worth $1,199,000 after purchasing an additional 500 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Fidelity National Financial in the second quarter worth approximately $32,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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.