Confluence Investment Management LLC Decreases Stake in Fidelity National Financial, Inc. $FNF

Key Points

• Confluence Investment Management LLC decreased its stake in Fidelity National Financial by 1.3%, now holding approximately 2.18 million shares valued at $122.16 million as of the latest SEC filing.
• Fidelity National Financial announced a quarterly dividend of $0.50 per share, reflecting an annualized yield of 3.3% and a payout ratio of 50.76%.
• Analysts lowered the price target for Fidelity National Financial from $67.00 to $65.00, with a consensus rating of "Moderate Buy" and an expected EPS of 6.28 for the current year.

Confluence Investment Management LLC reduced its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,179,039 shares of the financial services provider's stock after selling 29,034 shares during the quarter. Fidelity National Financial comprises approximately 1.7% of Confluence Investment Management LLC's investment portfolio, making the stock its 17th largest position. Confluence Investment Management LLC owned about 0.79% of Fidelity National Financial worth $122,157,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FNF. Cary Street Partners Investment Advisory LLC grew its holdings 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 valued at $30,000 after buying an additional 208 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Fidelity National Financial during the 1st quarter worth $32,000. Rise Advisors LLC acquired a new position in Fidelity National Financial during the 1st quarter worth about $32,000. Synergy Investment Management LLC acquired a new position in Fidelity National Financial during the 1st quarter worth about $36,000. Finally, Olde Wealth Management LLC acquired a new position in Fidelity National Financial during the 1st quarter worth about $40,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Stock Performance

NYSE:FNF traded up $0.52 during mid-day trading on Thursday, reaching $59.25. 628,349 shares of the stock were exchanged, compared to its average volume of 1,533,807. The company has a 50 day simple moving average of $58.06 and a 200-day simple moving average of $59.01. The stock has a market capitalization of $16.10 billion, a P/E ratio of 15.05 and a beta of 1.05. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. Fidelity National Financial, Inc. has a 1 year low of $50.61 and a 1 year high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter last year, the business posted $1.24 earnings per share. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Tuesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is 50.76%.

Analysts Set New Price Targets

Separately, Barclays reduced their price target on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently 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.