Arvest Investments Inc. Purchases New Shares in Fidelity National Financial, Inc. $FNF

Key Points

• Arvest Investments Inc. has acquired a new stake in Fidelity National Financial, buying 4,450 shares for approximately $249,000 in the second quarter.
• Analysts have lowered the price target for Fidelity National Financial from $67.00 to $65.00, maintaining an "equal weight" rating, with a consensus price target of $71.20.
• The company recently announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 3.3%.

Arvest Investments Inc. bought a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,450 shares of the financial services provider's stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also made changes to their positions in FNF. Nuveen LLC acquired a new stake in shares of Fidelity National Financial during the first quarter worth about $178,433,000. Millennium Management LLC grew its holdings in Fidelity National Financial by 93.3% in the 1st quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider's stock valued at $244,967,000 after buying an additional 1,817,124 shares in the last quarter. AQR Capital Management LLC grew its holdings in Fidelity National Financial by 70.6% in the 1st quarter. AQR Capital Management LLC now owns 1,992,047 shares of the financial services provider's stock valued at $129,264,000 after buying an additional 824,562 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Fidelity National Financial by 8,302.5% during the 1st quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider's stock worth $40,783,000 after purchasing an additional 619,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Fidelity National Financial by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock worth $585,785,000 after purchasing an additional 588,113 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barclays decreased their price objective on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Fidelity National Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Stock Down 0.6%

NYSE FNF traded down $0.36 during trading on Friday, hitting $58.81. 387,125 shares of the company traded hands, compared to its average volume of 1,531,336. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72. The business has a fifty day simple moving average of $58.22 and a 200 day simple moving average of $58.97. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $15.98 billion, a P/E ratio of 14.94 and a beta of 1.05.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted 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). Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is currently 50.76%.

Fidelity National Financial 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.