Amundi Trims Stake in Fidelity National Financial, Inc. $FNF

Key Points

• Amundi reduced its Fidelity National Financial stake by 4.3% in the first quarter, selling 35,393 shares and retaining 791,829 shares worth approximately $36.7 million. Institutional investors collectively own 81.17% of FNF.
• Analyst sentiment remains mixed, with ratings ranging from “strong sell” to “outperform.” MarketBeat reports a consensus “hold” rating and a $56 average price target.
• FNF reported quarterly EPS of $0.93, below the $1.09 consensus estimate, while revenue rose 18.2% year over year to $3.23 billion. The company maintains a quarterly dividend of $0.52, equivalent to a 4.0% annual yield.

Amundi cut its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 791,829 shares of the financial services provider's stock after selling 35,393 shares during the period. Amundi owned about 0.29% of Fidelity National Financial worth $36,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Canton Hathaway LLC purchased a new position in shares of Fidelity National Financial during the fourth quarter valued at $26,000. Commonwealth Retirement Investments LLC purchased a new stake in Fidelity National Financial in the fourth quarter worth about $28,000. Headlands Technologies LLC purchased a new stake in Fidelity National Financial in the second quarter worth about $32,000. Cary Street Partners Investment Advisory LLC grew its holdings in Fidelity National Financial by 57.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider's stock worth $53,000 after acquiring an additional 353 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new position in Fidelity National Financial during the 4th quarter worth about $58,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Peter T. Sadowski sold 69,196 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.70, for a total transaction of $3,162,257.20. Following the transaction, the executive vice president directly owned 5,702 shares of the company's stock, valued at $260,581.40. This represents a 92.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FNF has been the subject of several recent research reports. Barclays boosted their price target on shares of Fidelity National Financial from $50.00 to $51.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Zacks Research downgraded shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods cut their price objective on shares of Fidelity National Financial from $67.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, June 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. Finally, National Bank Financial set a $51.00 target price on Fidelity National Financial in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $56.00.

Fidelity National Financial Stock Performance

Shares of Fidelity National Financial stock opened at $51.65 on Tuesday. The company has a market capitalization of $13.90 billion, a PE ratio of 18.88, a P/E/G ratio of 0.77 and a beta of 0.95. The company has a 50-day simple moving average of $48.77 and a two-hundred day simple moving average of $49.96. Fidelity National Financial, Inc. has a one year low of $42.78 and a one year high of $61.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The firm had revenue of $3.23 billion during the quarter, compared to analysts' expectations of $3.61 billion. During the same period in the previous year, the firm earned $0.78 EPS. The firm's quarterly revenue was up 18.2% on a year-over-year basis. Research analysts expect that Fidelity National Financial, Inc. will post 5.11 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Fidelity National Financial's dividend payout ratio (DPR) is presently 75.91%.

Fidelity National Financial Profile

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.

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