Envestnet Asset Management Inc. Cuts Stake in Fidelity National Financial, Inc. (NYSE:FNF)

Envestnet Asset Management Inc. reduced its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 723,000 shares of the financial services provider's stock after selling 165,547 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Fidelity National Financial worth $47,053,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FNF. Opal Wealth Advisors LLC bought a new stake in Fidelity National Financial during the 1st quarter worth approximately $32,000. Capital Analysts LLC purchased a new stake in shares of Fidelity National Financial during the fourth quarter worth about $29,000. Olde Wealth Management LLC purchased a new stake in shares of Fidelity National Financial during the first quarter worth about $40,000. Private Trust Co. NA lifted its holdings in 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 purchasing an additional 206 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Fidelity National Financial in the 4th quarter worth approximately $44,000. Institutional investors own 81.17% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on FNF. Barclays lowered their target price 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. Keefe, Bruyette & Woods upgraded Fidelity National Financial from a "market perform" rating to an "outperform" rating and set a $69.00 price objective for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Fidelity National Financial presently has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Price Performance

FNF stock traded up $0.66 during trading on Wednesday, hitting $53.30. 1,735,429 shares of the company's stock traded hands, compared to its average volume of 1,305,285. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 13.19 and a beta of 1.02. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25. The business has a fifty day simple moving average of $55.63 and a 200 day simple moving average of $58.80.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.35). Fidelity National Financial had a net margin of 8.43% and a return on equity of 14.88%. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $3.32 billion. During the same period in the prior year, the company posted $0.91 EPS. The company's revenue was down 17.3% compared to the same quarter last year. As a group, research analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.75%. Fidelity National Financial's payout ratio is 49.50%.

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.