Fidelity National Financial Sees Unusually High Options Volume (NYSE:FNF)

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Fidelity National Financial Inc (NYSE:FNF) saw some unusual options trading activity on Thursday. Stock traders acquired 1,929 call options on the company. This is an increase of approximately 2,656% compared to the typical volume of 70 call options.

A number of research firms have weighed in on FNF. Compass Point raised shares of Fidelity National Financial from a “neutral” rating to a “buy” rating in a report on Monday, July 8th. Susquehanna Bancshares began coverage on shares of Fidelity National Financial in a report on Wednesday, June 19th. They issued a “positive” rating and a $48.00 price objective for the company. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $46.54.

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 64,883 shares of Fidelity National Financial stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $43.86, for a total value of $2,845,768.38. Following the completion of the transaction, the executive vice president now owns 127,795 shares of the company’s stock, valued at $5,605,088.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Michael Joseph Nolan sold 75,884 shares of Fidelity National Financial stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.09, for a total transaction of $3,345,725.56. Following the completion of the transaction, the president now directly owns 289,669 shares of the company’s stock, valued at approximately $12,771,506.21. The disclosure for this sale can be found here. Insiders sold 317,975 shares of company stock valued at $14,019,210 in the last ninety days. 6.20% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in FNF. Geode Capital Management LLC increased its stake in shares of Fidelity National Financial by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,930,396 shares of the financial services provider’s stock worth $92,074,000 after purchasing an additional 93,220 shares in the last quarter. Candriam Luxembourg S.C.A. grew its stake in Fidelity National Financial by 16.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 23,564 shares of the financial services provider’s stock valued at $861,000 after acquiring an additional 3,313 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Fidelity National Financial by 4.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 24,159 shares of the financial services provider’s stock valued at $883,000 after acquiring an additional 1,048 shares in the last quarter. CIBC Asset Management Inc grew its stake in Fidelity National Financial by 6.5% during the 1st quarter. CIBC Asset Management Inc now owns 16,384 shares of the financial services provider’s stock valued at $599,000 after acquiring an additional 993 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in Fidelity National Financial by 9.4% during the 1st quarter. Moors & Cabot Inc. now owns 12,857 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 1,100 shares in the last quarter. 83.12% of the stock is owned by institutional investors and hedge funds.

Shares of FNF stock traded down $0.74 on Friday, reaching $43.30. 1,126,905 shares of the company were exchanged, compared to its average volume of 1,173,395. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 16.04 and a beta of 0.84. The business has a 50-day moving average price of $43.80 and a 200 day moving average price of $40.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95. Fidelity National Financial has a 1 year low of $29.50 and a 1 year high of $45.40.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Tuesday, July 16th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. As a group, equities analysts anticipate that Fidelity National Financial will post 2.94 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, September 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. Fidelity National Financial’s dividend payout ratio is currently 45.93%.

About Fidelity National Financial

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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