Fidelity National Financial, Inc. (NYSE:FNF) Announces Dividend Increase - $0.54 Per Share

Key Points

• Fidelity National Financial increased its quarterly dividend 3.8%, from $0.52 to $0.54 per share. The annualized dividend is $2.16, representing a 4.9% yield; shareholders of record December 17 are scheduled to be paid December 31.
• The dividend appears supported by earnings: the company’s payout ratio is 31.5%, and analysts expect next year’s earnings to cover the annual dividend.
• FNF reported quarterly EPS of $1.32, matching estimates, while revenue of $3.58 billion came in below analysts’ $3.78 billion forecast. Analysts’ consensus rating is Hold, with an average price target of $54.20.

Fidelity National Financial, Inc. (NYSE:FNF - Get Free Report) declared a quarterly dividend on Friday, November 6th. Investors of record on Thursday, December 17th will be paid a dividend of $0.54 per share by the financial services provider on Thursday, December 31st. This represents a $2.16 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Thursday, December 17th. This is a 3.8% increase from Fidelity National Financial's previous quarterly dividend of $0.52.

Fidelity National Financial has raised its dividend payment by an average of 0.3% per year over the last three years and has increased its dividend every year for the last 1 years. Fidelity National Financial has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fidelity National Financial to earn $5.75 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 36.2%.

Fidelity National Financial Stock Up 2.0%

Fidelity National Financial stock traded up $0.88 during trading hours on Friday, hitting $43.77. The company had a trading volume of 4,333,170 shares, compared to its average volume of 1,973,759. Fidelity National Financial has a fifty-two week low of $37.88 and a fifty-two week high of $60.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $11.74 billion, a P/E ratio of 15.45 and a beta of 0.93. The firm's fifty day moving average is $41.88 and its 200-day moving average is $47.81.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The financial services provider reported $1.32 EPS for the quarter, meeting the consensus estimate of $1.32. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The business had revenue of $3.58 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the previous year, the company posted $1.63 EPS. On average, research analysts forecast that Fidelity National Financial will post 5.07 earnings per share for the current year.

Wall Street Analyst Weigh In

FNF has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on Fidelity National Financial from $64.00 to $61.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. National Bank Financial set a $54.00 price target on Fidelity National Financial in a research note on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fidelity National Financial in a report on Tuesday, September 8th. Barclays reduced their price target on Fidelity National Financial from $54.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, October 5th. Finally, Truist Financial lowered their price target on Fidelity National Financial from $70.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $54.20.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc NYSE: FNF is a provider of title insurance and transaction services in the United States. Through its title insurance businesses, the company protects property buyers, lenders and other parties against certain risks associated with real estate ownership and transfers. Its services include title searches, title examinations, escrow and closing services, and related technology and transaction-support solutions.

FNF operates through a group of title insurance brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.

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