Fidelity National Financial Inc. (NYSE: FNF) stock fell -5.72% on Friday to $37.40 against a previous-day closing price of $39.67. With 3.15 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.5 million shares. During the session, the Insurance – Specialty company that operates in wider Financial sector, reached to the highest price of $39.73 whereas the lowest price it dropped to was $37.15. The 52-week range on FNF shows that it touched its highest point at $56.44 and its lowest point at $34.59 during that stretch. It currently has a 1-year price target of $58.20. With its current market cap of 10.25 billion, FNF has annualized dividend of $1.76 while the current yield stands at 4.71%. Beta for the stock currently stands at 1.38.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FNF was down-trending over the past week, with a drop of -6.03%, but this was down by -5.84% over a month. Three-month performance surged to 3.54% while six-month performance fell -23.98%. The stock lost -17.68% in the past year, while it has lost -28.33% so far this year. A look at the trailing 12-month EPS for FNF yields 7.17 with Next year EPS estimates of 6.02. For the next quarter, that number is 1.55. This implies an EPS growth rate of 65.70% for this year and -4.52% for next year. EPS is expected to decline by -6.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 38.40%.
Float and Shares Shorts:
At present, 278.00 million FNF shares are outstanding with a float of 259.93 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.32 million, which was 1.18% higher than short shares on Jun 14, 2022. In addition to Mr. Michael Joseph Nolan as the firm’s Chief Exec. Officer, Mr. Raymond Randall Quirk serves as its Exec. Vice-Chairman.
Through their ownership of 81.53% of FNF’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.60% of FNF, in contrast to 44.41% held by mutual funds. Shares owned by individuals account for 34.92%. As the largest shareholder in FNF with 10.38% of the stake, The Vanguard Group, Inc. holds 28,676,986 shares worth 28,676,986. A second-largest stockholder of FNF, BlackRock Fund Advisors, holds 18,484,096 shares, controlling over 6.69% of the firm’s shares. Brave Warrior Advisors LLC is the third largest shareholder in FNF, holding 9,119,482 shares or 3.30% stake. With a 2.85% stake in FNF, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 7,870,512 shares are owned by the mutual fund manager. The iShares Tr. – Select Dividend ETF, which owns about 2.24% of FNF stock, is the second-largest Mutual Fund holder. It holds 6,174,653 shares valued at 241.43 million. Vanguard Mid Cap Index Fund holds 2.21% of the stake in FNF, owning 6,118,201 shares worth 239.22 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FNF since 8 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FNF analysts setting a high price target of $68.00 and a low target of $48.00, the average target price over the next 12 months is $58.20. Based on these targets, FNF could surge 81.82% to reach the target high and rise by 28.34% to reach the target low. Reaching the average price target will result in a growth of 55.61% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FNF will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $6.51 being high and $5.81 being low. For FNF, this leads to a yearly average estimate of $6.23. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Fidelity National Financial Inc. surprised analysts by $0.29 when it reported $1.90 EPS against a consensus estimate of $1.61. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is $1.65 and the low estimate is $1.34. The average estimate for the next quarter is thus $1.53.
Summary of Insider Activity:
Insiders traded FNF stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 21,414 shares were bought while 36,163 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 940,299 while 321,451 shares were sold.