Fidelity National Financial, Inc. Announces Quarterly Dividend of $0.52 (NYSE:FNF)

Key Points

• FNF declared a quarterly dividend of $0.52 per share (annualized $2.08), implying a ~4.1% yield; the ex-dividend and record date is June 16 and the dividend is payable June 30, with a payout ratio around 31.5% indicating coverage by earnings.
• The company missed expectations in the quarter, reporting $0.93 EPS versus $1.09 expected and revenue of $3.23 billion vs. $3.61 billion expected, although revenue grew 18.2% year-over-year and shares fell to $50.22 on the news.

Fidelity National Financial, Inc. (NYSE:FNF - Get Free Report) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Tuesday, June 16th will be given a dividend of 0.52 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, June 16th.

Fidelity National Financial has increased 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 dividend payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fidelity National Financial to earn $6.66 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 31.2%.

Fidelity National Financial Price Performance

Shares of FNF traded down $1.07 on Thursday, hitting $50.22. The company's stock had a trading volume of 2,927,300 shares, compared to its average volume of 1,873,333. The company has a market capitalization of $13.52 billion, a PE ratio of 23.63, a PEG ratio of 0.65 and a beta of 1.00. Fidelity National Financial has a fifty-two week low of $42.78 and a fifty-two week high of $62.33. The company has a 50 day moving average price of $48.64 and a 200 day moving average price of $53.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.24 and a quick ratio of 0.24.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a net margin of 4.17% and a return on equity of 15.06%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The company's revenue for the quarter was up 18.2% on a year-over-year basis. On average, research analysts anticipate that Fidelity National Financial will post 6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelity National Financial

Several hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in Fidelity National Financial during the 3rd quarter worth about $26,000. Atlantic Union Bankshares Corp grew its position in shares of Fidelity National Financial by 997.7% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider's stock worth $29,000 after buying an additional 429 shares during the period. Mather Group LLC. acquired a new stake in shares of Fidelity National Financial during the 3rd quarter worth approximately $29,000. Canton Hathaway LLC bought a new stake in shares of Fidelity National Financial during the fourth quarter worth approximately $26,000. Finally, Commonwealth Retirement Investments LLC bought a new stake in shares of Fidelity National Financial during the fourth quarter worth approximately $28,000. Institutional investors own 81.17% of the company's stock.

About Fidelity National Financial

Fidelity National Financial NYSE: FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.

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