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

Fidelity National Financial Inc (NYSE:FNF) was the target of unusually large options trading activity on Thursday. Stock investors bought 1,929 call options on the company. This is an increase of 2,656% compared to the typical daily volume of 70 call options.

FNF stock traded down $0.74 during trading on Friday, hitting $43.30. 1,126,905 shares of the company’s stock traded hands, compared to its average volume of 1,173,395. The firm has a market capitalization of $11.96 billion, a P/E ratio of 16.04 and a beta of 0.84. The business has a fifty day simple moving average of $43.80 and a two-hundred day simple moving average of $40.01. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. 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 issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.08 billion. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. Fidelity National Financial’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, equities research analysts predict that Fidelity National Financial will post 2.94 EPS for the current fiscal year.

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

A number of equities analysts have recently commented on FNF shares. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Fidelity National Financial from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Compass Point raised shares of Fidelity National Financial from a “neutral” rating to a “buy” rating in a report on Monday, July 8th. Finally, Susquehanna Bancshares assumed coverage on shares of Fidelity National Financial in a report on Wednesday, June 19th. They set a “positive” rating and a $48.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Fidelity National Financial has a consensus rating of “Buy” and a consensus price target of $46.54.

In other news, EVP Peter T. Sadowski sold 64,883 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $43.86, for a total transaction of $2,845,768.38. Following the transaction, the executive vice president now directly owns 127,795 shares of the company’s stock, valued at $5,605,088.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael L. Gravelle sold 138,845 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $44.14, for a total transaction of $6,128,618.30. Following the transaction, the executive vice president now directly owns 312,112 shares in the company, valued at $13,776,623.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 317,975 shares of company stock worth $14,019,210. Corporate insiders own 6.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its holdings in Fidelity National Financial by 1,784.8% in the second quarter. Invesco Ltd. now owns 1,704,489 shares of the financial services provider’s stock worth $68,691,000 after purchasing an additional 1,614,055 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Fidelity National Financial by 2,824.6% in the second quarter. Nuveen Asset Management LLC now owns 1,049,630 shares of the financial services provider’s stock worth $42,300,000 after purchasing an additional 1,013,740 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Fidelity National Financial by 15.9% in the first quarter. Wells Fargo & Company MN now owns 6,095,081 shares of the financial services provider’s stock worth $222,776,000 after purchasing an additional 836,632 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Fidelity National Financial in the second quarter worth $20,978,000. Finally, BlackRock Inc. grew its holdings in Fidelity National Financial by 3.1% in the second quarter. BlackRock Inc. now owns 16,601,963 shares of the financial services provider’s stock worth $669,060,000 after purchasing an additional 504,631 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors.

Fidelity National Financial Company Profile

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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