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

Fidelity National Financial, Inc. (NYSE:FNF) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 2,594 call options on the stock. This represents an increase of approximately 220% compared to the average volume of 810 call options.

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 25,000 shares of Fidelity National Financial stock in a transaction on Friday, July 16th. The shares were sold at an average price of $44.10, for a total value of $1,102,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger S. Jewkes sold 13,018 shares of the business’s stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $49.17, for a total transaction of $640,095.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,000 shares of company stock worth $4,920,321. 5.20% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. abrdn plc boosted its stake in Fidelity National Financial by 0.3% in the second quarter. abrdn plc now owns 79,140 shares of the financial services provider’s stock valued at $3,439,000 after acquiring an additional 216 shares during the last quarter. Archer Investment Corp boosted its stake in Fidelity National Financial by 14.4% in the second quarter. Archer Investment Corp now owns 2,025 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 255 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Fidelity National Financial by 31.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,134 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 272 shares during the last quarter. IFP Advisors Inc boosted its stake in Fidelity National Financial by 10.9% in the third quarter. IFP Advisors Inc now owns 3,037 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 299 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in shares of Fidelity National Financial by 0.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 38,150 shares of the financial services provider’s stock valued at $1,730,000 after buying an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Fidelity National Financial stock opened at $47.76 on Thursday. Fidelity National Financial has a fifty-two week low of $29.82 and a fifty-two week high of $49.55. The stock has a market cap of $13.63 billion, a PE ratio of 5.96 and a beta of 1.39. The firm’s 50-day simple moving average is $47.26 and its 200 day simple moving average is $45.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.19 and a current ratio of 0.19.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Tuesday, August 3rd. The financial services provider reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.67. Fidelity National Financial had a net margin of 17.05% and a return on equity of 25.33%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.04 billion. As a group, analysts predict that Fidelity National Financial will post 6.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.35%. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, September 15th. Fidelity National Financial’s payout ratio is presently 29.96%.

Fidelity National Financial declared that its board has authorized a share buyback plan on Tuesday, August 3rd that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 0.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday. Barclays boosted their price target on shares of Fidelity National Financial from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to real estate and mortgage industries. Its services include title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products; and technology and transaction services to the real estate and mortgage industries.

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