Fidelity National Financial, Inc. (NYSE:FNF) Short Interest Up 10.6% in August

Fidelity National Financial, Inc. (NYSE:FNF) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totalling 2,720,000 shares, a growth of 10.6% from the July 31st total of 2,460,000 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 976,000 shares, the short-interest ratio is currently 2.8 days.

Fidelity National Financial Price Performance

FNF stock traded down $0.09 during midday trading on Tuesday, reaching $58.87. 929,080 shares of the stock were exchanged, compared to its average volume of 1,269,583. Fidelity National Financial has a 52 week low of $37.10 and a 52 week high of $59.42. The company has a fifty day moving average price of $53.87 and a 200 day moving average price of $51.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $16.10 billion, a PE ratio of 19.38 and a beta of 1.35.

Fidelity National Financial (NYSE:FNF) last announced its quarterly 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 net margin of 7.19% and a return on equity of 14.48%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, analysts expect that Fidelity National Financial will post 4.57 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, September 16th. Fidelity National Financial’s payout ratio is 63.16%.

Hedge Funds Weigh In On Fidelity National Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. increased its holdings in Fidelity National Financial by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 66,445 shares of the financial services provider’s stock valued at $3,390,000 after purchasing an additional 196 shares during the period. Chesley Taft & Associates LLC grew its position in shares of Fidelity National Financial by 1.9% in the 2nd quarter. Chesley Taft & Associates LLC now owns 10,575 shares of the financial services provider’s stock valued at $523,000 after buying an additional 200 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Fidelity National Financial by 1.3% in the second quarter. Intech Investment Management LLC now owns 15,336 shares of the financial services provider’s stock valued at $758,000 after buying an additional 202 shares during the period. GAMMA Investing LLC raised its position in shares of Fidelity National Financial by 10.6% during the first quarter. GAMMA Investing LLC now owns 2,155 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 207 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Fidelity National Financial by 13.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 213 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FNF has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Fidelity National Financial from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Fidelity National Financial from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $53.00 price objective on shares of Fidelity National Financial in a research report on Tuesday, August 6th. Stephens reiterated an “overweight” rating and issued a $63.00 target price on shares of Fidelity National Financial in a research report on Thursday, August 15th. Finally, StockNews.com cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.80.

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.