Fidelity National Financial, Inc. (NYSE:FNF) Sees Large Decline in Short Interest

Fidelity National Financial, Inc. (NYSE:FNFGet Rating) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 4,020,000 shares, a decline of 29.1% from the April 15th total of 5,670,000 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 2,380,000 shares, the days-to-cover ratio is presently 1.7 days.

In other news, COO Roger S. Jewkes sold 7,438 shares of the business’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $50.01, for a total value of $371,974.38. Following the completion of the sale, the chief operating officer now owns 104,246 shares in the company, valued at approximately $5,213,342.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Fidelity National Financial by 0.9% during the 1st quarter. BlackRock Inc. now owns 34,000,608 shares of the financial services provider’s stock valued at $1,660,591,000 after purchasing an additional 291,928 shares in the last quarter. Vanguard Group Inc. increased its stake in Fidelity National Financial by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 28,877,107 shares of the financial services provider’s stock valued at $1,410,358,000 after purchasing an additional 1,250,233 shares in the last quarter. Brave Warrior Advisors LLC increased its stake in Fidelity National Financial by 39.9% during the 3rd quarter. Brave Warrior Advisors LLC now owns 8,792,405 shares of the financial services provider’s stock valued at $398,648,000 after purchasing an additional 2,505,759 shares in the last quarter. First Trust Advisors LP increased its stake in Fidelity National Financial by 109.5% during the 1st quarter. First Trust Advisors LP now owns 8,590,814 shares of the financial services provider’s stock valued at $419,575,000 after purchasing an additional 4,489,781 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Fidelity National Financial by 4.7% during the 1st quarter. Principal Financial Group Inc. now owns 7,952,184 shares of the financial services provider’s stock valued at $388,385,000 after purchasing an additional 353,943 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

NYSE FNF opened at $40.84 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.19 and a debt-to-equity ratio of 0.38. The firm has a market cap of $11.46 billion, a PE ratio of 5.26 and a beta of 1.42. The company has a 50 day moving average price of $44.59 and a 200 day moving average price of $48.35. Fidelity National Financial has a 52 week low of $38.87 and a 52 week high of $56.44.

Fidelity National Financial (NYSE:FNFGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Fidelity National Financial had a net margin of 14.10% and a return on equity of 24.56%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the business posted $1.56 EPS. Fidelity National Financial’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Fidelity National Financial will post 6.28 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, June 15th. This represents a $1.76 dividend on an annualized basis and a yield of 4.31%. Fidelity National Financial’s payout ratio is 22.68%.

FNF has been the subject of several recent research reports. BTIG Research initiated coverage on shares of Fidelity National Financial in a report on Wednesday, February 2nd. They issued a “neutral” rating for the company. Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Monday, February 28th. Barclays reduced their price objective on shares of Fidelity National Financial from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday, April 12th. StockNews.com began coverage on shares of Fidelity National Financial in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Credit Suisse Group reduced their price objective on shares of Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $61.67.

About Fidelity National Financial (Get Rating)

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 insurance.

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