Fidelity National Financial, Inc. (NYSE:FNF) Short Interest Update

Key Points

• Fidelity National Financial's short interest surged by 65.9% in July, rising to 6,470,000 shares, which constitutes 2.5% of the total shares sold short.
• The company received mixed analyst ratings, with an increase in target price from Keefe, Bruyette & Woods to $69.00 and a decrease from Barclays to $65.00, leading to a consensus rating of "Moderate Buy".
• Fidelity National Financial recently announced a quarterly dividend of $0.50 per share, representing a 3.4% dividend yield with a payout ratio of 49.50%.

Fidelity National Financial, Inc. (NYSE:FNF - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 6,470,000 shares, anincreaseof65.9% from the June 30th total of 3,900,000 shares. Currently,2.5% of the shares of the stock are sold short. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is currently 3.4 days. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is currently 3.4 days. Currently,2.5% of the shares of the stock are sold short.

Fidelity National Financial Price Performance

Fidelity National Financial stock traded up $0.39 during trading hours on Friday, hitting $58.31. 1,091,854 shares of the stock were exchanged, compared to its average volume of 2,210,690. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.25 and a current ratio of 42.06. The stock has a market capitalization of $16.01 billion, a P/E ratio of 14.80 and a beta of 1.02. Fidelity National Financial has a 12 month low of $50.61 and a 12 month high of $66.72. The business's 50-day moving average is $55.64 and its two-hundred day moving average is $58.79.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.24). The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Fidelity National Financial had a return on equity of 14.68% and a net margin of 7.93%. Fidelity National Financial's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 earnings per share. Equities research analysts expect that Fidelity National Financial will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Fidelity National Financial's dividend payout ratio (DPR) is currently 49.50%.

Institutional Trading of Fidelity National Financial

A number of hedge funds and other institutional investors have recently modified their holdings of FNF. Wellington Management Group LLP boosted its stake in Fidelity National Financial by 421.4% in the fourth quarter. Wellington Management Group LLP now owns 35,223 shares of the financial services provider's stock valued at $1,977,000 after acquiring an additional 28,468 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Fidelity National Financial by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 588,461 shares of the financial services provider's stock valued at $33,036,000 after acquiring an additional 2,832 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in Fidelity National Financial in the fourth quarter valued at approximately $4,137,000. Dynamic Technology Lab Private Ltd acquired a new stake in Fidelity National Financial in the fourth quarter worth $538,000. Finally, Envestnet Asset Management Inc. raised its holdings in Fidelity National Financial by 1.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 888,547 shares of the financial services provider's stock worth $49,883,000 after purchasing an additional 9,645 shares during the period. Institutional investors and hedge funds own 81.17% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their target price on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Company Profile

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.