149,432 Shares in Fidelity National Financial, Inc. $FNF Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 149,432 shares of Fidelity National Financial, valued at approximately $7.05 million. Institutional investors and hedge funds collectively own 81.17% of FNF.
• FNF reported quarterly earnings of $1.39 per share, exceeding estimates of $1.31, while revenue rose 11.4% year over year to $4.05 billion.
• The company declared a quarterly dividend of $0.52 per share, equivalent to an annualized $2.08 payout and a 4.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $56.75.

Assenagon Asset Management S.A. purchased a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 149,432 shares of the financial services provider's stock, valued at approximately $7,047,000. Assenagon Asset Management S.A. owned approximately 0.06% of Fidelity National Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Commonwealth Retirement Investments LLC acquired a new stake in shares of Fidelity National Financial during the fourth quarter worth $28,000. Headlands Technologies LLC acquired a new position in shares of Fidelity National Financial in the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC increased its stake in Fidelity National Financial by 57.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider's stock worth $53,000 after purchasing an additional 353 shares in the last quarter. Torren Management LLC purchased a new position in Fidelity National Financial in the 4th quarter worth about $57,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Fidelity National Financial during the 4th quarter worth about $58,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Trading Down 0.9%

NYSE FNF opened at $47.58 on Wednesday. Fidelity National Financial, Inc. has a 1-year low of $42.78 and a 1-year high of $61.40. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $12.76 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95. The firm's fifty day simple moving average is $49.10 and its 200-day simple moving average is $49.85.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.79 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Fidelity National Financial, Inc. will post 5.16 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, September 16th. Fidelity National Financial's payout ratio is currently 73.50%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FNF shares. Zacks Research cut shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a report on Friday, May 8th. National Bank Financial set a $54.00 price target on shares of Fidelity National Financial in a report on Friday. Barclays upped their price target on shares of Fidelity National Financial from $51.00 to $54.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Keefe, Bruyette & Woods decreased their price objective on shares of Fidelity National Financial from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Monday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Fidelity National Financial presently has an average rating of "Hold" and a consensus target price of $56.75.

Insider Activity at Fidelity National Financial

In related news, EVP Peter T. Sadowski sold 69,196 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the sale, the executive vice president owned 5,702 shares of the company's stock, valued at approximately $260,581.40. The trade was a 92.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.70% of the company's stock.

About Fidelity National Financial

Fidelity National Financial NYSE: FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source