AQR Capital Management LLC Purchases 824,562 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• AQR Capital Management LLC increased its stake in Fidelity National Financial by 70.6%, owning approximately 1.99 million shares worth around $129 million after acquiring an additional 824,562 shares in the first quarter.
• The company reported $1.16 earnings per share for the last quarter, missing consensus estimates by $0.24, while revenue was up 15.1% year-over-year.
• Fidelity National Financial declared a quarterly dividend of $0.50 per share, yielding 3.3%, with a payout ratio of 50.76%.

AQR Capital Management LLC lifted its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 70.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,992,047 shares of the financial services provider's stock after buying an additional 824,562 shares during the period. AQR Capital Management LLC owned approximately 0.73% of Fidelity National Financial worth $129,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Fidelity National Financial by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider's stock worth $1,768,543,000 after purchasing an additional 120,595 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Fidelity National Financial by 7.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock worth $585,785,000 after purchasing an additional 588,113 shares during the period. Victory Capital Management Inc. raised its holdings in Fidelity National Financial by 1.5% in the 1st quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock worth $534,585,000 after purchasing an additional 121,096 shares during the period. Nuveen LLC bought a new position in Fidelity National Financial in the 1st quarter worth $178,433,000. Finally, Royal Bank of Canada raised its holdings in Fidelity National Financial by 0.3% in the 1st quarter. Royal Bank of Canada now owns 2,007,085 shares of the financial services provider's stock worth $130,621,000 after purchasing an additional 5,205 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity National Financial Price Performance

NYSE:FNF traded down $0.80 on Wednesday, reaching $59.18. 232,502 shares of the company's stock traded hands, compared to its average volume of 1,545,179. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $57.72 and a 200-day simple moving average of $59.08. The firm has a market cap of $16.08 billion, a PE ratio of 15.02 and a beta of 1.05. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.40 by ($0.24). The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. Fidelity National Financial's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. Equities research analysts forecast that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. Fidelity National Financial's dividend payout ratio (DPR) is currently 50.76%.

Analysts Set New Price Targets

Separately, Barclays decreased their target price on 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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.20.

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.