Teacher Retirement System of Texas Invests $25.04 Million in Fidelity National Financial, Inc. (NYSE:FNF)

Teacher Retirement System of Texas purchased a new position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 384,715 shares of the financial services provider's stock, valued at approximately $25,037,000. Teacher Retirement System of Texas owned approximately 0.14% of Fidelity National Financial at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Fidelity National Financial in the 4th quarter worth approximately $158,386,000. Invesco Ltd. boosted its stake in Fidelity National Financial by 53.3% during the fourth quarter. Invesco Ltd. now owns 2,199,684 shares of the financial services provider's stock valued at $123,490,000 after buying an additional 764,958 shares during the period. Hsbc Holdings PLC grew its position in Fidelity National Financial by 99.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,437,460 shares of the financial services provider's stock worth $80,689,000 after buying an additional 715,070 shares in the last quarter. AQR Capital Management LLC increased its stake in Fidelity National Financial by 135.8% in the 4th quarter. AQR Capital Management LLC now owns 1,167,485 shares of the financial services provider's stock worth $65,543,000 after acquiring an additional 672,323 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Fidelity National Financial by 8,302.5% in the 1st quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider's stock valued at $40,783,000 after acquiring an additional 619,197 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised Fidelity National Financial from a "market perform" rating to an "outperform" rating and set a $69.00 price target on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.60.

Fidelity National Financial Price Performance

FNF stock traded down $0.40 during midday trading on Monday, reaching $57.59. The company had a trading volume of 3,314,134 shares, compared to its average volume of 1,237,031. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. Fidelity National Financial, Inc. has a 1 year low of $47.93 and a 1 year high of $66.72. The company has a market capitalization of $15.82 billion, a P/E ratio of 14.25 and a beta of 1.02. The firm has a 50-day moving average price of $56.94 and a 200-day moving average price of $58.95.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly 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 company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $3.32 billion. Fidelity National Financial had a return on equity of 14.88% and a net margin of 8.43%. Fidelity National Financial's quarterly revenue was down 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. On average, research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 16th were issued a $0.50 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.47%. Fidelity National Financial's payout ratio is 49.50%.

About Fidelity National Financial

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.