Barclays PLC Cuts Holdings in Fidelity National Financial, Inc. $FNF

Key Points

• Barclays PLC trimmed its stake by 13.7%, selling 69,898 shares and ending the quarter with 439,162 shares of Fidelity National Financial worth about $26.6 million.
• FNF reported quarterly EPS of $1.41, missing the $1.51 consensus while posting revenue of $4.05 billion (up 11.9% year-over-year and above estimates), and the stock has traded down toward its 12‑month low near $47.17.
• FNF declared a quarterly dividend of $0.52 (a 4.4% yield) with a high payout ratio of 97.65%, while institutional ownership remains elevated at about 81.17% as several funds materially increased positions (notably Cooke & Bieler).

Barclays PLC trimmed its stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 439,162 shares of the financial services provider's stock after selling 69,898 shares during the period. Barclays PLC owned 0.16% of Fidelity National Financial worth $26,565,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in Fidelity National Financial by 76.5% during the third quarter. Exchange Traded Concepts LLC now owns 50,223 shares of the financial services provider's stock worth $3,038,000 after buying an additional 21,770 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Fidelity National Financial in the third quarter worth about $14,576,000. Federated Hermes Inc. boosted its stake in shares of Fidelity National Financial by 13.4% during the 2nd quarter. Federated Hermes Inc. now owns 165,517 shares of the financial services provider's stock worth $9,279,000 after acquiring an additional 19,503 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Fidelity National Financial by 12.3% during the 3rd quarter. Cooke & Bieler LP now owns 5,258,399 shares of the financial services provider's stock worth $318,081,000 after acquiring an additional 574,189 shares in the last quarter. Finally, CWM LLC grew its position in shares of Fidelity National Financial by 389.7% during the 3rd quarter. CWM LLC now owns 120,505 shares of the financial services provider's stock valued at $7,289,000 after acquiring an additional 95,895 shares during the period. 81.17% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Trading Down 2.5%

Shares of FNF stock opened at $47.17 on Thursday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.49. Fidelity National Financial, Inc. has a twelve month low of $47.16 and a twelve month high of $66.72. The company's 50-day moving average price is $53.76 and its 200-day moving average price is $56.36. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 0.61 and a beta of 0.99.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.51 by ($0.10). The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.66 billion. Fidelity National Financial had a return on equity of 15.06% and a net margin of 4.17%.The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.34 EPS. As a group, equities analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, March 17th. Fidelity National Financial's dividend payout ratio is currently 97.65%.

Analyst Ratings Changes

Several research analysts have recently weighed in on FNF shares. National Bank Financial set a $71.00 target price on Fidelity National Financial in a research note on Monday, February 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Fidelity National Financial from $70.00 to $71.00 and gave the company an "outperform" rating in a research note on Monday, February 23rd. Stephens assumed coverage on shares of Fidelity National Financial in a report on Friday, November 14th. They issued an "overweight" rating for the company. Weiss Ratings cut shares of Fidelity National Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, March 2nd. Finally, Wall Street Zen downgraded shares of Fidelity National Financial from a "buy" rating to a "hold" rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.33.

Insider Activity at Fidelity National Financial

In other Fidelity National Financial news, Director Halim Dhanidina sold 6,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $55.90, for a total transaction of $335,400.00. Following the sale, the director directly owned 13,186 shares in the company, valued at $737,097.40. This represents a 31.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.50% of the company's stock.

Fidelity National Financial Company 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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