Fidelity National Financial (NYSE:FNF) Announces Earnings Results, Misses Expectations By $0.11 EPS

Fidelity National Financial (NYSE:FNF) issued its earnings results on Wednesday. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11), Briefing.com reports. Fidelity National Financial had a net margin of 7.19% and a return on equity of 14.48%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year.

Fidelity National Financial Stock Performance

Shares of NYSE:FNF traded down $1.77 during midday trading on Thursday, hitting $59.12. The company’s stock had a trading volume of 2,397,757 shares, compared to its average volume of 1,214,734. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.23 and a current ratio of 0.23. The stock’s 50 day simple moving average is $60.27 and its 200 day simple moving average is $54.92. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 17.64 and a beta of 1.37. Fidelity National Financial has a fifty-two week low of $42.21 and a fifty-two week high of $62.97.

Fidelity National Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s dividend payout ratio is 57.31%.

Insider Buying and Selling

In related news, Director Halim Dhanidina sold 1,700 shares of the business’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 transaction, the director now owns 13,206 shares of the company’s stock, valued at approximately $803,585.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.