Short-term stake in Fidelity National Financial, Inc. (NYSE:FNF) rises 29.9%
Fidelity National Financial, Inc. (NYSE: FNF) benefited from a sharp increase in short interest in December. As of December 31, there was short interest totaling 3,690,000 shares, an increase of 29.9% from the total of 2,840,000 shares as of December 15. Based on an average daily trading volume of 1,560,000 shares, the day-to-cover ratio is currently 2.4 days. Approximately 1.4% of the company’s shares are sold short.
Several analysts have commented on the title. Credit Suisse Group raised its price target on Fidelity National Financial shares from $56.00 to $65.00 and gave the company an “outperform” rating in a Friday, November 19 research report. Zacks Investment Research upgraded Fidelity National Financial shares from a “hold” rating to a “buy” rating and set a target price of $53.00 for the company in a Wednesday, October 13 research report. Finally, Barclays raised its price target on Fidelity National Financial shares from $65.00 to $69.00 and gave the company an “overweight” rating in a Thursday, November 4 research report.
FNF shares were down $1.66 during trading hours on Tuesday, hitting $54.21. The stock recorded a trading volume of 1,976,224 shares, compared to an average volume of 1,844,784 shares. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt ratio of 0.33. Fidelity National Financial has a 52-week low of $35.72 and a 52-week high of $56.44. The company has a 50-day moving average of $51.63 and a 200-day moving average of $48.46. The company has a market capitalization of $15.42 billion, a P/E ratio of 6.01 and a beta of 1.40.
Fidelity National Financial (NYSE:FNF) last released quarterly earnings data on Tuesday, November 2. The financial services provider reported EPS of $2.12 for the quarter, beating the Zacks consensus estimate of $1.74 by $0.38. Fidelity National Financial posted a net margin of 18.40% and a return on equity of 25.68%. The company posted revenue of $3.89 billion in the quarter, compared to $3.36 billion expected by analysts. In the same quarter of the previous year, the company achieved EPS of $1.48. As a group, stock analysts expect Fidelity National Financial to post earnings per share of 7.29 for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 31. Investors of record on Friday, December 17 received a dividend of $0.44. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.40. This represents a dividend of $1.76 on an annualized basis and a yield of 3.25%. Fidelity National Financial’s dividend payout ratio is currently 18.92%.
In other news from Fidelity National Financial, CEO Raymond R. Quirk sold 100,000 shares of the company in a trade on Tuesday, December 14. The stock was sold at an average price of $50.75, for a total transaction of $5,075,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.20% of the shares are currently held by company insiders.
A number of hedge funds and other institutional investors have recently changed their positions in the stock. Assetmark Inc. increased its stake in Fidelity National Financial shares by 134.5% during the third quarter. Assetmark Inc. now owns 652 shares of the financial services provider worth $30,000 after buying 374 additional shares in the last quarter. Huntington National Bank increased its stake in Fidelity National Financial shares by 35.6% during the third quarter. Huntington National Bank now owns 1,151 shares of the financial services provider worth $52,000 after buying 302 more shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Fidelity National Financial stock during Q4 worth approximately $61,000. O Shaughnessy Asset Management LLC increased its stake in Fidelity National Financial shares by 371.9% during Q3. O Shaughnessy Asset Management LLC now owns 1,463 shares of the financial services provider worth $66,000 after buying 1,153 additional shares in the last quarter. Finally, Accel Wealth Management increased its stake in Fidelity National Financial shares by 647.0% during the 4th quarter. Accel Wealth Management now owns 2,241 shares of the financial services provider worth $117,000 after buying 1,941 additional shares in the last quarter. 79.23% of the shares are held by hedge funds and other institutional investors.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to the real estate and mortgage lending industries. Its services include title insurance, escrow and other title-related services, including fiduciary business, fiduciary sales guarantees, registrations and retrocessions, and residential warranty products; and technology and transaction services to the real estate and mortgage industries.
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