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

Key Points

• Fidelity National Financial declared a quarterly dividend of $0.52 per share, payable September 30 to shareholders of record on September 16. The annualized dividend is $2.08 per share, representing an approximately 4.0% yield.
• The dividend appears well covered, with a current payout ratio of 31.5% and an expected future payout ratio of 35.0% based on analysts’ projected earnings of $5.95 per share.
• FNF reported quarterly EPS of $1.39, beating estimates by $0.08, while revenue rose 11.4% year over year to $4.05 billion. The stock traded at $52.56, and institutional investors owned 81.17% of outstanding shares.

Fidelity National Financial, Inc. (NYSE:FNF - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.52 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, September 16th.

Fidelity National Financial has raised its dividend payment by an average of 0.3%per year over the last three years and has raised 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. Research analysts expect Fidelity National Financial to earn $5.95 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 35.0%.

Fidelity National Financial Price Performance

NYSE:FNF traded up $1.46 during mid-day trading on Thursday, hitting $52.56. The company's stock had a trading volume of 2,059,138 shares, compared to its average volume of 1,758,661. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 0.77 and a beta of 0.95. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. Fidelity National Financial has a fifty-two week low of $42.78 and a fifty-two week high of $61.40. The stock has a fifty day moving average of $48.89 and a 200-day moving average of $49.95.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.79 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. As a group, equities analysts forecast that Fidelity National Financial will post 5.11 EPS for the current fiscal year.

Insider Activity

In related news, EVP Peter T. Sadowski sold 69,196 shares of Fidelity National Financial stock in a transaction on Friday, June 26th. The stock was sold at an average price of $45.70, for a total transaction of $3,162,257.20. Following the completion of the sale, the executive vice president directly owned 5,702 shares of the company's stock, valued at $260,581.40. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Fidelity National Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. raised its holdings in shares of Fidelity National Financial by 1.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 17,542 shares of the financial services provider's stock worth $958,000 after purchasing an additional 192 shares during the last quarter. Fiduciary Trust Co lifted its holdings in Fidelity National Financial by 2.0% in the third quarter. Fiduciary Trust Co now owns 11,813 shares of the financial services provider's stock valued at $715,000 after acquiring an additional 228 shares during the period. Kera Capital Partners Inc. boosted its position in Fidelity National Financial by 6.1% in the 4th quarter. Kera Capital Partners Inc. now owns 3,946 shares of the financial services provider's stock worth $215,000 after purchasing an additional 228 shares in the last quarter. Brooklyn Investment Group boosted its position in Fidelity National Financial by 2.1% in the 4th quarter. Brooklyn Investment Group now owns 11,272 shares of the financial services provider's stock worth $621,000 after purchasing an additional 231 shares in the last quarter. Finally, 44 Wealth Management LLC grew its stake in shares of Fidelity National Financial by 1.7% during the 4th quarter. 44 Wealth Management LLC now owns 15,090 shares of the financial services provider's stock worth $824,000 after purchasing an additional 255 shares during the period. 81.17% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source