Traders Purchase High Volume of Call Options on Fidelity National Financial (NYSE:FNF)

Fidelity National Financial Inc (NYSE:FNF) saw some unusual options trading activity on Wednesday. Traders bought 773 call options on the company. This represents an increase of 1,358% compared to the average volume of 53 call options.

Shares of Fidelity National Financial stock opened at $39.50 on Thursday. Fidelity National Financial has a 52-week low of $29.50 and a 52-week high of $41.41. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market cap of $10.86 billion, a PE ratio of 14.63 and a beta of 0.91.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Fidelity National Financial had a net margin of 9.67% and a return on equity of 16.03%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $0.42 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Fidelity National Financial will post 2.76 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.24 annualized dividend and a yield of 3.14%. Fidelity National Financial’s payout ratio is currently 45.93%.

A number of brokerages have recently issued reports on FNF. ValuEngine lowered shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Piper Jaffray Companies boosted their price target on shares of Fidelity National Financial from $44.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Zacks Investment Research lowered shares of Fidelity National Financial from a “buy” rating to a “sell” rating in a research note on Thursday, February 14th. Compass Point lowered shares of Fidelity National Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $42.50 to $43.75 in a research note on Monday, April 29th. They noted that the move was a valuation call. Finally, Barclays reiterated a “buy” rating and set a $42.00 price target on shares of Fidelity National Financial in a research note on Friday, February 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Fidelity National Financial presently has a consensus rating of “Buy” and a consensus price target of $43.96.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC grew its position in Fidelity National Financial by 7.4% during the first quarter. Princeton Global Asset Management LLC now owns 10,228 shares of the financial services provider’s stock worth $373,000 after buying an additional 702 shares during the period. Advisory Services Network LLC grew its position in Fidelity National Financial by 2.6% during the first quarter. Advisory Services Network LLC now owns 19,099 shares of the financial services provider’s stock worth $698,000 after buying an additional 476 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in Fidelity National Financial during the first quarter worth about $219,000. Ameritas Investment Corp grew its position in Fidelity National Financial by 1,888.4% during the first quarter. Ameritas Investment Corp now owns 3,957 shares of the financial services provider’s stock worth $145,000 after buying an additional 3,758 shares during the period. Finally, Kore Private Wealth LLC acquired a new position in Fidelity National Financial during the first quarter worth about $91,000. Institutional investors own 82.83% of the company’s stock.

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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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