Fidelity National Financial, Inc. $FNF Position Boosted by Ethic Inc.

Key Points

• Ethic Inc. increased its holdings in Fidelity National Financial by 26.9% in Q1, bringing its total shares to 38,420, valued at approximately $2.53 million.
• Fidelity National Financial reported Q2 earnings of $1.16 per share, missing estimates of $1.40, while revenue matched expectations at $3.64 billion.
• The company recently announced a quarterly dividend of $0.50 per share, translating to an annual yield of 3.4%, with a payout ratio of 50.76%.

Ethic Inc. grew its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,420 shares of the financial services provider's stock after purchasing an additional 8,133 shares during the period. Ethic Inc.'s holdings in Fidelity National Financial were worth $2,533,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FNF. Pallas Capital Advisors LLC lifted its position in Fidelity National Financial by 109.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 12,241 shares of the financial services provider's stock worth $797,000 after buying an additional 6,405 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake 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 worth $1,509,000 after acquiring an additional 1,267 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Fidelity National Financial by 38.7% during the first quarter. Private Trust Co. NA now owns 738 shares of the financial services provider's stock worth $48,000 after acquiring an additional 206 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Fidelity National Financial by 4.3% during 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 purchasing an additional 3,510 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in 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 purchasing an additional 2,807 shares in the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Stock Down 1.3%

FNF stock opened at $59.67 on Monday. The firm has a market cap of $16.21 billion, a PE ratio of 15.14 and a beta of 1.02. Fidelity National Financial, Inc. has a 1 year low of $50.61 and a 1 year high of $66.72. The company has a fifty day simple moving average of $56.19 and a 200 day simple moving average of $58.86. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly 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). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%. Fidelity National Financial's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. Sell-side analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given 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 is presently 50.76%.

Wall Street Analyst Weigh In

Separately, Barclays cut their price target on 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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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