Comerica Bank Reduces Holdings in Fidelity National Financial, Inc. $FNF

Key Points

• Comerica Bank has reduced its stake in Fidelity National Financial by 8.1% in the first quarter, selling 11,132 shares and retaining 125,966 shares valued at approximately $8.2 million.
• Barclays has decreased its target price for Fidelity National Financial from $67.00 to $65.00, maintaining an "equal weight" rating, while the stock has a consensus rating of "Moderate Buy" among analysts.
• The company announced a quarterly dividend of $0.50 per share, representing an annualized yield of 3.3%, with a dividend payout ratio currently at 50.76%.

Comerica Bank trimmed its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,966 shares of the financial services provider's stock after selling 11,132 shares during the quarter. Comerica Bank's holdings in Fidelity National Financial were worth $8,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pallas Capital Advisors LLC boosted its holdings in Fidelity National Financial by 109.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 12,241 shares of the financial services provider's stock valued at $797,000 after purchasing an additional 6,405 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Fidelity National Financial by 5.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 23,189 shares of the financial services provider's stock worth $1,509,000 after acquiring an additional 1,267 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Fidelity National Financial by 38.7% in the 1st quarter. Private Trust Co. NA now owns 738 shares of the financial services provider's stock worth $48,000 after acquiring an additional 206 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fidelity National Financial by 4.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 85,118 shares of the financial services provider's stock worth $5,540,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Fidelity National Financial by 3.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 97,207 shares of the financial services provider's stock worth $6,326,000 after acquiring an additional 2,807 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Financial Stock Up 0.5%

Fidelity National Financial stock traded up $0.32 during mid-day trading on Friday, reaching $59.94. 984,600 shares of the company's stock were exchanged, compared to its average volume of 1,182,156. The company has a market cap of $16.29 billion, a P/E ratio of 15.21 and a beta of 1.02. Fidelity National Financial, Inc. has a twelve month low of $50.61 and a twelve month high of $66.72. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $57.20 and a 200-day moving average of $59.00.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.93% and a return on equity of 14.30%. The firm 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 for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Fidelity National Financial's dividend payout ratio is currently 50.76%.

Analyst Ratings Changes

Separately, Barclays decreased their price objective on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

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.