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

Other large investors also recently made changes to their positions in the company. Pallas Capital Advisors LLC lifted its stake in shares of Fidelity National Financial by 109.7% during the 1st 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 period. Oppenheimer & Co. Inc. lifted its stake in shares of Fidelity National Financial by 5.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,189 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 1,267 shares during the period. Private Trust Co. NA lifted its stake in shares of Fidelity National Financial by 38.7% during 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 during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Fidelity National Financial by 4.3% during 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 purchasing an additional 3,510 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Fidelity National Financial by 3.0% during 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 purchasing an additional 2,807 shares during the period. Hedge funds and other institutional investors own 81.17% of the company's stock.

Fidelity National Financial Stock Down 0.9%

Shares of Fidelity National Financial stock opened at $58.62 on Monday. The business has a 50-day moving average of $58.33 and a 200-day moving average of $58.88. 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 capitalization of $15.93 billion, a PE ratio of 14.88 and a beta of 1.05. 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). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. As a group, equities analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Fidelity National Financial's dividend payout ratio (DPR) is currently 50.76%.

Analysts Set New Price Targets

Separately, Barclays dropped 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 issued a Hold rating to the company. Based on data from MarketBeat, Fidelity National Financial presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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