Bank of New York Mellon Corp Has $137.36 Million Holdings in Fidelity National Financial, Inc. $FNF

Key Points

• Bank of New York Mellon trimmed its stake in Fidelity National Financial by 7.6% in the fourth quarter, but still held 2.52 million shares valued at about $137.4 million.
• Fidelity National Financial reported Q1 earnings of $0.93 per share, below the $1.09 consensus estimate, while revenue of $3.23 billion also missed expectations.
• The company announced a quarterly dividend of $0.52 per share, implying an annualized yield of about 4.4%; analysts currently rate the stock Hold on average with a $56.25 price target.

Bank of New York Mellon Corp lessened its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,516,236 shares of the financial services provider's stock after selling 208,429 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Fidelity National Financial worth $137,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Windacre Partnership LLC increased its holdings in shares of Fidelity National Financial by 31.0% in the 3rd quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider's stock valued at $1,143,569,000 after purchasing an additional 4,477,900 shares during the period. State Street Corp increased its holdings in Fidelity National Financial by 0.3% in the third quarter. State Street Corp now owns 9,469,029 shares of the financial services provider's stock worth $572,782,000 after buying an additional 31,318 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Fidelity National Financial by 0.9% in the fourth quarter. First Eagle Investment Management LLC now owns 6,102,523 shares of the financial services provider's stock worth $333,137,000 after buying an additional 54,756 shares during the last quarter. AQR Capital Management LLC increased its holdings in Fidelity National Financial by 75.4% in the third quarter. AQR Capital Management LLC now owns 5,057,355 shares of the financial services provider's stock worth $304,503,000 after buying an additional 2,174,220 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Fidelity National Financial by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,777,274 shares of the financial services provider's stock worth $260,060,000 after buying an additional 47,639 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Stock Up 2.9%

FNF opened at $47.37 on Friday. Fidelity National Financial, Inc. has a 1-year low of $42.78 and a 1-year high of $61.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 0.69 and a beta of 0.96. The business has a 50 day moving average of $48.46 and a 200-day moving average of $52.15.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.16). The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.61 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The firm's revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Fidelity National Financial, Inc. will post 5.29 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, June 16th. Fidelity National Financial's dividend payout ratio is presently 75.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FNF shares. Keefe, Bruyette & Woods dropped their price objective on Fidelity National Financial from $71.00 to $67.00 and set an "outperform" rating on the stock in a report on Friday, April 10th. Weiss Ratings downgraded Fidelity National Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 2nd. Barclays dropped their price objective on Fidelity National Financial from $54.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, May 11th. National Bank Financial set a $50.00 price objective on Fidelity National Financial in a report on Monday, May 11th. Finally, Zacks Research cut Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Fidelity National Financial presently has a consensus rating of "Hold" and an average price target of $56.25.

About Fidelity National Financial

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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