Fidelity National Financial (NYSE:FNF) Posts Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Fidelity National Financial beat quarterly expectations: EPS came in at $1.39 versus the $1.31 consensus, while revenue reached $4.05 billion, up 11.4% year over year and above estimates of $3.79 billion.
• Shares fell modestly to $51.19 despite the earnings beat. The stock has traded between $42.78 and $61.40 over the past year, with a market cap of approximately $13.78 billion.
• Analyst sentiment remains mixed: FNF has a consensus “Hold” rating and a $56 price target, while an executive recently sold 69,196 shares and institutional investors collectively own 81.17% of the stock.

Fidelity National Financial (NYSE:FNF - Get Free Report) announced its earnings results on Wednesday. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08, FiscalAI reports. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $1.16 EPS. The business's revenue was up 11.4% on a year-over-year basis.

Fidelity National Financial Price Performance

FNF traded down $0.32 on Wednesday, hitting $51.19. 1,655,537 shares of the company's stock were exchanged, compared to its average volume of 1,492,745. Fidelity National Financial has a fifty-two week low of $42.78 and a fifty-two week high of $61.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $48.89 and a 200-day moving average price of $49.95. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 0.77 and a beta of 0.95.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Zacks Research cut shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. National Bank Financial set a $51.00 target price on shares of Fidelity National Financial in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods reduced their price target on shares of Fidelity National Financial from $67.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, June 25th. Finally, Stephens decreased their price target on shares of Fidelity National Financial from $61.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $56.00.

Insider Activity at Fidelity National Financial

In other news, EVP Peter T. Sadowski sold 69,196 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the sale, the executive vice president directly owned 5,702 shares in the company, valued at $260,581.40. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Windacre Partnership LLC boosted its holdings in Fidelity National Financial by 31.0% in the 3rd quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider's stock valued at $1,143,569,000 after purchasing an additional 4,477,900 shares during the last quarter. State Street Corp increased its holdings in shares of Fidelity National Financial by 0.3% during the 3rd quarter. State Street Corp now owns 9,469,029 shares of the financial services provider's stock worth $572,782,000 after buying an additional 31,318 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Fidelity National Financial by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,353,982 shares of the financial services provider's stock worth $510,634,000 after buying an additional 193,629 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Fidelity National Financial by 34.5% during the 4th quarter. AQR Capital Management LLC now owns 6,800,697 shares of the financial services provider's stock valued at $371,250,000 after buying an additional 1,743,342 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Fidelity National Financial by 368.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,685 shares of the financial services provider's stock valued at $99,265,000 after buying an additional 1,392,560 shares during the period. 81.17% of the stock is owned by hedge funds and other 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.

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