Fidelity National Financial, Inc. (NYSE:FNF) Sees Large Decrease in Short Interest4 min read
Fidelity National Financial, Inc. (NYSE:FNF – Get Rating) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 3,900,000 shares, a decline of 53.3% from the February 28th total of 8,360,000 shares. Based on an average daily trading volume, of 2,170,000 shares, the short-interest ratio is presently 1.8 days. Currently, 1.5% of the shares of the company are sold short.
Fidelity National Financial stock traded up $0.56 during trading hours on Tuesday, hitting $50.28. 1,342,044 shares of the stock were exchanged, compared to its average volume of 2,259,102. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $14.26 billion, a P/E ratio of 5.89 and a beta of 1.37. Fidelity National Financial has a 12 month low of $40.52 and a 12 month high of $56.44. The business’s 50-day moving average is $48.79 and its two-hundred day moving average is $49.41.
Fidelity National Financial (NYSE:FNF – Get Rating) last announced its earnings results on Wednesday, February 23rd. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.56. Fidelity National Financial had a net margin of 15.48% and a return on equity of 25.23%. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the business earned $2.01 earnings per share. Fidelity National Financial’s quarterly revenue was up 27.2% on a year-over-year basis. On average, equities analysts predict that Fidelity National Financial will post 6.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Thursday, March 17th will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, March 16th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.50%. Fidelity National Financial’s payout ratio is 20.85%.
In other Fidelity National Financial news, EVP Peter T. Sadowski sold 14,650 shares of Fidelity National Financial stock in a transaction that occurred on Wednesday, January 19th. The shares were sold at an average price of $53.94, for a total value of $790,221.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sandra Douglass Morgan sold 1,050 shares of Fidelity National Financial stock in a transaction that occurred on Tuesday, January 18th. The stock was sold at an average price of $55.33, for a total transaction of $58,096.50. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. CX Institutional lifted its holdings in Fidelity National Financial by 0.7% in the fourth quarter. CX Institutional now owns 29,213 shares of the financial services provider’s stock valued at $1,524,000 after buying an additional 194 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Fidelity National Financial by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,169 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 244 shares during the period. CI Investments Inc. raised its holdings in Fidelity National Financial by 1.3% in the third quarter. CI Investments Inc. now owns 22,678 shares of the financial services provider’s stock worth $1,028,000 after purchasing an additional 281 shares during the period. Advisory Services Network LLC raised its holdings in Fidelity National Financial by 1.5% in the third quarter. Advisory Services Network LLC now owns 19,542 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 287 shares during the period. Finally, Huntington National Bank raised its holdings in Fidelity National Financial by 35.6% in the third quarter. Huntington National Bank now owns 1,151 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 302 shares during the period. Institutional investors own 79.81% of the company’s stock.
FNF has been the topic of several research analyst reports. Barclays boosted their price target on shares of Fidelity National Financial from $69.00 to $74.00 in a report on Friday, February 25th. BTIG Research began coverage on shares of Fidelity National Financial in a report on Wednesday, February 2nd. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Monday, February 28th.
Fidelity National Financial Company Profile (Get Rating)
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 insurance.
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