Brandywine Global Investment Management LLC Sells 6,810 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Fidelity National Financial by 4.8%, selling 6,810 shares, and still owns 136,095 shares, valued at approximately $8.86 million.
• Barclays lowered its price target for Fidelity National Financial from $67.00 to $65.00 and maintains an "equal weight" rating, with the average target price currently at $71.20.
• Fidelity National Financial announced a quarterly dividend of $0.50, payable on September 30th, representing an annual yield of 3.4% and a payout ratio of 50.76%.

Brandywine Global Investment Management LLC lessened its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,095 shares of the financial services provider's stock after selling 6,810 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Fidelity National Financial were worth $8,857,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Fidelity National Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider's stock valued at $1,768,543,000 after acquiring an additional 120,595 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fidelity National Financial by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock valued at $585,785,000 after acquiring an additional 588,113 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Fidelity National Financial by 1.5% during the first quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock valued at $534,585,000 after acquiring an additional 121,096 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Fidelity National Financial by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,385,420 shares of the financial services provider's stock valued at $190,060,000 after acquiring an additional 16,095 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Fidelity National Financial during the first quarter valued at approximately $178,433,000. Institutional investors own 81.17% of the company's stock.

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 report on Tuesday, July 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Fidelity National Financial currently has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Price Performance

FNF opened at $59.67 on Friday. The stock has a fifty day simple moving average of $56.19 and a two-hundred day simple moving average of $58.86. 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 cap of $16.21 billion, a price-to-earnings ratio of 15.14 and a beta of 1.02. Fidelity National Financial, Inc. has a 12-month low of $50.61 and a 12-month high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its earnings results 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 company had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same period in the prior year, the company posted $1.24 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. Research analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is currently 50.76%.

About Fidelity National Financial

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.

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