Fidelity National Financial (NYSE:FNF) Share Price Crosses Below 50 Day Moving Average - Here's Why

Key Points

• Fidelity National Financial shares fell below their 50-day moving average, trading as low as $41.24 versus the $42.06 average; the stock was down 1.9% in the session.
• Analysts have cut several price targets, though the average target is $54.20. MarketBeat’s consensus rating is Hold, with three Buy, two Hold, and one Sell ratings.
• In its latest reported quarter, FNF beat earnings and revenue estimates: EPS was $1.39 versus $1.31 expected, while revenue rose 11.4% year over year to $4.05 billion.

Fidelity National Financial, Inc. (NYSE:FNF - Get Free Report) shares passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $42.06 and traded as low as $41.24. Fidelity National Financial shares last traded at $41.3860, with a volume of 2,205,297 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stephens decreased their target price on shares of Fidelity National Financial from $55.00 to $50.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 21st. Truist Financial dropped their price target on Fidelity National Financial from $70.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, October 15th. Barclays cut their price objective on Fidelity National Financial from $54.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, October 5th. Keefe, Bruyette & Woods reduced their price objective on Fidelity National Financial from $64.00 to $61.00 and set an "outperform" rating on the stock in a research report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fidelity National Financial in a report on Tuesday, September 8th. Three 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 stock. According to data from MarketBeat, Fidelity National Financial presently has an average rating of "Hold" and an average target price of $54.20.

Fidelity National Financial Trading Down 1.9%

The business has a 50 day moving average of $42.06 and a two-hundred day moving average of $47.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 14.61 and a beta of 0.93.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the firm earned $1.16 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts predict that Fidelity National Financial, Inc. will post 5.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FNF. Avidian Wealth Enterprises LLC increased its holdings in Fidelity National Financial by 5.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,255 shares of the financial services provider's stock worth $203,000 after buying an additional 267 shares during the last quarter. Sage Rhino Capital LLC boosted its stake in Fidelity National Financial by 8.8% in the first quarter. Sage Rhino Capital LLC now owns 4,325 shares of the financial services provider's stock valued at $201,000 after acquiring an additional 351 shares during the last quarter. Focused Alpha LLC grew its position in shares of Fidelity National Financial by 4.8% during the 3rd quarter. Focused Alpha LLC now owns 8,928 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 405 shares during the period. Prosperitas Financial LLC grew its position in shares of Fidelity National Financial by 7.4% during the 3rd quarter. Prosperitas Financial LLC now owns 5,980 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 410 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Fidelity National Financial by 1.0% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 52,818 shares of the financial services provider's stock valued at $2,041,000 after acquiring an additional 500 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

About Fidelity National Financial

Fidelity National Financial, Inc NYSE: FNF is a provider of title insurance and transaction services in the United States. Through its title insurance businesses, the company protects property buyers, lenders and other parties against certain risks associated with real estate ownership and transfers. Its services include title searches, title examinations, escrow and closing services, and related technology and transaction-support solutions.

FNF operates through a group of title insurance brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.

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