Citigroup Inc. Sells 86,897 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Citigroup Inc. reduced its holdings in Fidelity National Financial by 39.4%, now owning 133,526 shares valued at $8.69 million following the sale of 86,897 shares.
• Barclays lowered its target price for Fidelity National Financial from $67.00 to $65.00, with a current average price target of $71.20 and a consensus rating of "Moderate Buy" from analysts.
• The company announced a quarterly dividend of $0.50 per share, reflecting a 3.4% yield, scheduled to be paid on September 30th to shareholders of record on September 16th.

Citigroup Inc. lessened its stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 39.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,526 shares of the financial services provider's stock after selling 86,897 shares during the period. Citigroup Inc.'s holdings in Fidelity National Financial were worth $8,690,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in Fidelity National Financial in the 4th quarter worth about $29,000. Cary Street Partners Investment Advisory LLC increased its stake in Fidelity National Financial by 80.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 468 shares of the financial services provider's stock worth $30,000 after buying an additional 208 shares during the period. Opal Wealth Advisors LLC purchased a new position in Fidelity National Financial in the 1st quarter worth about $32,000. Synergy Investment Management LLC purchased a new position in Fidelity National Financial in the 1st quarter worth about $36,000. Finally, Olde Wealth Management LLC purchased a new position in Fidelity National Financial in the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 81.17% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays reduced their price target on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Stock Down 0.4%

Fidelity National Financial stock traded down $0.2150 during midday trading on Wednesday, hitting $59.2550. 291,090 shares of the company's stock were exchanged, compared to its average volume of 1,588,630. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72. The firm has a 50-day moving average of $56.36 and a two-hundred day moving average of $58.87. The company has a market cap of $16.10 billion, a PE ratio of 15.05 and a beta of 1.02.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. As a group, analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is presently 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.