Picton Mahoney Asset Management Takes $1.13 Million Position in Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Picton Mahoney Asset Management acquired 17,307 shares of Fidelity National Financial, valued at approximately $1,127,000, indicating increased institutional interest in the company.
• Institutional investors own 81.17% of Fidelity National Financial's stock, highlighting strong confidence from large financial entities.
• Fidelity National Financial reported a net margin of 8.43% for the last quarter, but earnings per share missed analysts' expectations, resulting in a 17.3% decline in revenue year-over-year.

Picton Mahoney Asset Management acquired a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,307 shares of the financial services provider's stock, valued at approximately $1,127,000.

Several other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. lifted its position in Fidelity National Financial by 1.5% during the first quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock valued at $534,585,000 after purchasing an additional 121,096 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fidelity National Financial by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 4,497,471 shares of the financial services provider's stock worth $252,037,000 after acquiring an additional 34,634 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Fidelity National Financial by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,385,420 shares of the financial services provider's stock worth $190,060,000 after acquiring an additional 16,095 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Fidelity National Financial by 19.9% in the 4th quarter. Northern Trust Corp now owns 2,515,286 shares of the financial services provider's stock worth $141,208,000 after acquiring an additional 418,234 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Fidelity National Financial by 53.3% in the 4th quarter. Invesco Ltd. now owns 2,199,684 shares of the financial services provider's stock worth $123,490,000 after acquiring an additional 764,958 shares during the last quarter. Institutional investors own 81.17% of the company's stock.

Fidelity National Financial Stock Up 0.4%

NYSE FNF traded up $0.20 during trading on Friday, reaching $56.63. 1,196,875 shares of the company's stock traded hands, compared to its average volume of 2,595,118. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market cap of $15.55 billion, a price-to-earnings ratio of 14.02 and a beta of 1.02. The company's 50 day simple moving average is $55.24 and its two-hundred day simple moving average is $58.80. Fidelity National Financial, Inc. has a 12-month low of $50.61 and a 12-month high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.35). The business had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $3.32 billion. Fidelity National Financial had a net margin of 8.43% and a return on equity of 14.88%. The company's revenue for the quarter was down 17.3% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. As a group, sell-side analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.5%. Fidelity National Financial's dividend payout ratio (DPR) is 49.50%.

Wall Street Analysts Forecast Growth

FNF has been the subject of several analyst reports. Keefe, Bruyette & Woods upgraded shares of Fidelity National Financial from a "market perform" rating to an "outperform" rating and set a $69.00 target price for the company in a report on Tuesday, April 8th. Barclays reduced their price target on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $71.20.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.