Cubist Systematic Strategies LLC Increases Holdings in Fidelity National Financial, Inc. $FNF

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Fidelity National Financial by 336.5% during the first quarter, now owning 307,513 shares valued at approximately $20 million.
• Barclays lowered its price target for Fidelity National Financial from $67.00 to $65.00 and assigned an "equal weight" rating, while the stock maintains an average rating of "Moderate Buy" with a consensus price target of $71.20.
• Fidelity National Financial recently announced a quarterly dividend of $0.50 per share, representing an annualized yield of 3.3%, with a payout ratio of 50.76%.

Cubist Systematic Strategies LLC increased its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 336.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 307,513 shares of the financial services provider's stock after buying an additional 237,063 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.11% of Fidelity National Financial worth $20,013,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Separately, Barclays reduced 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. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Fidelity National Financial presently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Price Performance

NYSE FNF traded up $1.01 during trading hours on Wednesday, reaching $59.62. 1,213,641 shares of the stock traded hands, compared to its average volume of 1,125,050. The stock has a 50 day simple moving average of $57.42 and a two-hundred day simple moving average of $59.02. Fidelity National Financial, Inc. has a 1 year low of $50.61 and a 1 year high of $66.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 15.13 and a beta of 1.05.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts predict that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 annualized dividend and a yield of 3.4%. Fidelity National Financial's payout ratio is presently 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.