Alliancebernstein L.P. Has $24.61 Million Stock Position in Fidelity National Financial, Inc. $FNF

Key Points

• Alliancebernstein L.P. reduced its stake in Fidelity National Financial by 6.6%, now holding 378,125 shares valued at approximately $24.6 million after selling 26,826 shares.
• Barclays lowered its price target for Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock, which currently has a consensus target price of $71.20.
• Fidelity National Financial announced a quarterly dividend of $0.50 per share, with a yield of 3.3%, to be paid on September 30th to shareholders of record as of September 16th.

Alliancebernstein L.P. lessened its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 378,125 shares of the financial services provider's stock after selling 26,826 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Fidelity National Financial worth $24,608,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its position in shares of Fidelity National Financial by 80.0% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 468 shares of the financial services provider's stock worth $30,000 after purchasing an additional 208 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Fidelity National Financial during the 1st quarter worth about $32,000. Synergy Investment Management LLC acquired a new position in shares of Fidelity National Financial during the 1st quarter worth about $36,000. Olde Wealth Management LLC acquired a new position in shares of Fidelity National Financial during the 1st quarter worth about $40,000. Finally, SVB Wealth LLC acquired a new position in shares of Fidelity National Financial during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their price target on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.20.

Fidelity National Financial Trading Down 0.2%

FNF traded down $0.12 during mid-day trading on Friday, reaching $60.56. The stock had a trading volume of 838,469 shares, compared to its average volume of 1,064,295. The stock has a market capitalization of $16.45 billion, a P/E ratio of 15.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24. The firm's fifty day simple moving average is $57.87 and its two-hundred day simple moving average is $59.09. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.40 by ($0.24). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 earnings per share. On average, equities analysts predict that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is presently 50.76%.

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.