Fidelity National Financial, Inc. (FNF) Short Interest Update
Fidelity National Financial, Inc. (NYSE:FNF) was the target of a significant increase in short interest during the month of October. As of October 13th, there was short interest totalling 3,051,696 shares, an increase of 58.9% from the September 29th total of 1,920,940 shares. Based on an average trading volume of 1,929,956 shares, the short-interest ratio is presently 1.6 days. Approximately 1.2% of the shares of the company are sold short.
A number of brokerages have recently issued reports on FNF. Zacks Investment Research lowered shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. SunTrust Banks, Inc. restated a “buy” rating and set a $41.00 target price on shares of Fidelity National Financial in a research report on Friday, October 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $37.00 target price on shares of Fidelity National Financial in a research report on Sunday, October 29th. Finally, Barclays PLC raised their target price on shares of Fidelity National Financial from $36.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Fidelity National Financial currently has a consensus rating of “Buy” and an average price target of $44.17.
Fidelity National Financial (FNF) opened at $37.98 on Friday. Fidelity National Financial has a 1 year low of $31.64 and a 1 year high of $49.37. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.58 and a quick ratio of 0.90. The firm has a market cap of $10,395.13, a price-to-earnings ratio of 14.66 and a beta of 0.93.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Fidelity National Financial had a net margin of 7.77% and a return on equity of 11.09%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $0.69 EPS. Fidelity National Financial’s quarterly revenue was up 2.0% on a year-over-year basis. equities analysts anticipate that Fidelity National Financial will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.27 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.84%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.25. Fidelity National Financial’s dividend payout ratio (DPR) is 55.79%.
In other news, Director Janet Kerr sold 786 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $48.41, for a total transaction of $38,050.26. Following the transaction, the director now directly owns 11,817 shares in the company, valued at $572,060.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brent B. Bickett sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $48.21, for a total transaction of $3,856,800.00. Following the transaction, the insider now owns 584,367 shares in the company, valued at $28,172,333.07. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Fidelity National Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 22,037,492 shares of the financial services provider’s stock valued at $987,941,000 after acquiring an additional 413,840 shares during the period. Principal Financial Group Inc. lifted its holdings in Fidelity National Financial by 65.0% in the second quarter. Principal Financial Group Inc. now owns 17,770,127 shares of the financial services provider’s stock valued at $796,636,000 after acquiring an additional 7,000,057 shares during the period. Alliancebernstein L.P. lifted its holdings in Fidelity National Financial by 28.0% in the second quarter. Alliancebernstein L.P. now owns 5,965,608 shares of the financial services provider’s stock valued at $267,438,000 after acquiring an additional 1,303,871 shares during the period. Victory Capital Management Inc. lifted its holdings in Fidelity National Financial by 8.7% in the third quarter. Victory Capital Management Inc. now owns 4,698,531 shares of the financial services provider’s stock valued at $222,993,000 after acquiring an additional 375,435 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Fidelity National Financial by 4.1% in the second quarter. Wells Fargo & Company MN now owns 4,217,229 shares of the financial services provider’s stock valued at $189,058,000 after acquiring an additional 166,745 shares during the period. 81.83% of the stock is owned by institutional investors.
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About Fidelity National Financial
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.
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