Assenagon Asset Management S.A. Sells 27,685 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Assenagon Asset Management reduced its Fidelity National Financial stake by 18.5% in the third quarter, selling 27,685 shares and retaining 121,747 shares valued at approximately $4.7 million. Institutional investors and hedge funds collectively own 81.17% of FNF.
• Analyst sentiment remains moderately bullish, with three Buy ratings and three Hold ratings and an average price target of $55.20, despite several recent target-price reductions.
• FNF reported quarterly earnings of $1.39 per share, surpassing estimates, while revenue rose 11.4% year over year to $4.05 billion. The company also maintains a quarterly dividend of $0.52, equivalent to a 5.1% annualized yield.

Assenagon Asset Management S.A. decreased its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,747 shares of the financial services provider's stock after selling 27,685 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Fidelity National Financial were worth $4,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FNF. Valley Wealth Managers Inc. lifted its holdings in Fidelity National Financial by 59.3% in the third quarter. Valley Wealth Managers Inc. now owns 123,280 shares of the financial services provider's stock valued at $4,765,000 after buying an additional 45,899 shares during the period. Stokes Capital Advisors LLC boosted its position in Fidelity National Financial by 33.9% during the third quarter. Stokes Capital Advisors LLC now owns 8,300 shares of the financial services provider's stock valued at $321,000 after acquiring an additional 2,100 shares during the last quarter. Sound Income Strategies LLC boosted its position in Fidelity National Financial by 3.0% during the third quarter. Sound Income Strategies LLC now owns 161,390 shares of the financial services provider's stock valued at $6,418,000 after acquiring an additional 4,657 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Fidelity National Financial by 15.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,546 shares of the financial services provider's stock worth $292,000 after acquiring an additional 994 shares during the period. Finally, Apella Capital LLC grew its holdings in Fidelity National Financial by 67.3% during the 3rd quarter. Apella Capital LLC now owns 12,879 shares of the financial services provider's stock worth $503,000 after acquiring an additional 5,183 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Fidelity National Financial from $54.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, October 5th. Stephens restated an "overweight" rating and issued a $55.00 price target on shares of Fidelity National Financial in a report on Monday, August 24th. Keefe, Bruyette & Woods decreased their price target on shares of Fidelity National Financial from $64.00 to $61.00 and set an "outperform" rating for the company in a research note on Monday, August 10th. National Bank Financial set a $54.00 price objective on Fidelity National Financial in a research note on Friday, August 7th. Finally, Truist Financial decreased their price objective on Fidelity National Financial from $70.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.20.

Fidelity National Financial Stock Performance

NYSE FNF opened at $40.50 on Wednesday. The company has a market capitalization of $10.86 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 0.60 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.26 and a current ratio of 0.26. Fidelity National Financial, Inc. has a 52-week low of $37.88 and a 52-week high of $60.37. The company has a 50-day simple moving average of $43.55 and a 200 day simple moving average of $47.09.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The firm had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.79 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts predict that Fidelity National Financial, Inc. will post 5.05 EPS for the current year.

Fidelity National Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.08 annualized dividend and a yield of 5.1%. Fidelity National Financial's dividend payout ratio (DPR) is 73.50%.

Fidelity National Financial Profile

Fidelity National Financial, Inc NYSE: FNF is a provider of title insurance and transaction services in the United States. Through its title insurance businesses, the company protects property buyers, lenders and other parties against certain risks associated with real estate ownership and transfers. Its services include title searches, title examinations, escrow and closing services, and related technology and transaction-support solutions.

FNF operates through a group of title insurance brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.