Fidelity National Financial (NYSE:FNF) Reaches New 12-Month Low - Here's What Happened

Key Points

• FNF hit a new 52-week low, trading as low as $48.29 (last $48.49) and was down about 2.1%, trading below its 50- and 200-day moving averages ($54.05 and $56.51).
• The company missed quarterly EPS ($1.41 vs. $1.51 est.) but reported revenue of $4.05B (up 11.9% YoY), and pays a $0.52 quarterly dividend (4.3% yield) with a high payout ratio of 97.65%.
• Analysts are mixed—MarketBeat shows a "Moderate Buy" consensus and a $68.33 target after recent upgrades and downgrades—while institutional investors own about 81.17% of the shares and an insider recently sold stock.

Fidelity National Financial, Inc. (NYSE:FNF - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $48.29 and last traded at $48.4910, with a volume of 1270695 shares. The stock had previously closed at $49.45.

Analyst Upgrades and Downgrades

A number of analysts have commented on FNF shares. Weiss Ratings lowered shares of Fidelity National Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 2nd. Wall Street Zen downgraded shares of Fidelity National Financial from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Barclays cut their price target on shares of Fidelity National Financial from $64.00 to $63.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 6th. Keefe, Bruyette & Woods raised their price objective on shares of Fidelity National Financial from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Finally, Stephens initiated coverage on shares of Fidelity National Financial in a research report on Friday, November 14th. They set an "overweight" rating on the stock. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.33.

Fidelity National Financial Stock Down 2.1%

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.24 and a quick ratio of 0.24. The business has a 50 day simple moving average of $54.05 and a 200 day simple moving average of $56.51. The stock has a market cap of $13.13 billion, a PE ratio of 22.78, a P/E/G ratio of 0.64 and a beta of 0.99.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.10). Fidelity National Financial had a net margin of 4.17% and a return on equity of 15.06%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Fidelity National Financial's payout ratio is 97.65%.

Insider Buying and Selling

In other news, Director Halim Dhanidina sold 6,000 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.90, for a total transaction of $335,400.00. Following the transaction, the director owned 13,186 shares in the company, valued at $737,097.40. This represents a 31.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fidelity National Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Quent Capital LLC bought a new position in Fidelity National Financial during the third quarter valued at about $26,000. Canton Hathaway LLC bought a new stake in shares of Fidelity National Financial during the 4th quarter worth about $26,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Fidelity National Financial during the 4th quarter valued at about $28,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Fidelity National Financial during the 2nd quarter valued at about $29,000. Finally, Mather Group LLC. bought a new position in shares of Fidelity National Financial in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Company Profile

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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