Exchange Traded Concepts LLC Increases Stake in Fidelity National Financial, Inc. $FNF

Key Points

• Exchange Traded Concepts LLC increased its stake in Fidelity National Financial by 96.2%, holding 28,453 shares valued at approximately $1.6 million at the end of the second quarter.
• Fidelity National Financial reported earnings of $1.16 per share for the last quarter, missing estimates by $0.24, while achieving a year-over-year revenue growth of 15.1%.
• The firm announced a quarterly dividend of $0.50 per share, yielding 3.4% annually, with a payout ratio of 50.76%.

Exchange Traded Concepts LLC raised its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 96.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,453 shares of the financial services provider's stock after buying an additional 13,949 shares during the period. Exchange Traded Concepts LLC's holdings in Fidelity National Financial were worth $1,595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC purchased a new stake in Fidelity National Financial during the 1st quarter valued at about $178,433,000. Millennium Management LLC increased its stake in Fidelity National Financial by 93.3% in the 1st quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider's stock worth $244,967,000 after purchasing an additional 1,817,124 shares during the period. AQR Capital Management LLC lifted its position in Fidelity National Financial by 70.6% in the first quarter. AQR Capital Management LLC now owns 1,992,047 shares of the financial services provider's stock valued at $129,264,000 after purchasing an additional 824,562 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Fidelity National Financial by 8,302.5% during the first quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider's stock valued at $40,783,000 after purchasing an additional 619,197 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Fidelity National Financial by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock valued at $585,785,000 after purchasing an additional 588,113 shares during the period. 81.17% of the stock is owned by institutional investors.

Fidelity National Financial Stock Up 0.4%

Shares of FNF traded up $0.23 on Monday, hitting $58.92. 1,211,284 shares of the stock traded hands, compared to its average volume of 1,200,894. The company has a market capitalization of $16.01 billion, a PE ratio of 14.95 and a beta of 1.05. The business has a 50 day simple moving average of $58.45 and a 200 day simple moving average of $58.85. Fidelity National Financial, Inc. has a one year low of $50.61 and a one year high of $66.72. 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 (NYSE:FNF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $3.64 billion. During the same period last year, the firm posted $1.24 EPS. Fidelity National Financial's quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts forecast 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 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is currently 50.76%.

Analysts Set New Price Targets

Separately, Barclays lowered their price objective on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock 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.