Fidelity National Financial, Inc. $FNF Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in Fidelity National Financial, boosting holdings by 3,482.7% in Q1 to 125,037 shares worth about $5.8 million.
• Fidelity National Financial reported mixed quarterly results, with earnings of $0.93 per share missing estimates of $1.09 and revenue of $3.23 billion below expectations, though revenue still rose 18.2% year over year.
• The company remains a income-focused stock, recently paying a quarterly dividend of $0.52 per share, or $2.08 annually, for a yield of about 4.0%.

Fifth Third Bancorp boosted its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 3,482.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,037 shares of the financial services provider's stock after purchasing an additional 121,547 shares during the period. Fifth Third Bancorp's holdings in Fidelity National Financial were worth $5,799,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of FNF. Windacre Partnership LLC increased its stake in shares of Fidelity National Financial by 31.0% in the third quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider's stock worth $1,143,569,000 after buying an additional 4,477,900 shares during the last quarter. State Street Corp boosted its stake in Fidelity National Financial by 0.3% during the 3rd quarter. State Street Corp now owns 9,469,029 shares of the financial services provider's stock valued at $572,782,000 after acquiring an additional 31,318 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fidelity National Financial by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,353,982 shares of the financial services provider's stock worth $510,634,000 after acquiring an additional 193,629 shares in the last quarter. AQR Capital Management LLC grew its holdings in Fidelity National Financial by 34.5% during the 4th quarter. AQR Capital Management LLC now owns 6,800,697 shares of the financial services provider's stock worth $371,250,000 after acquiring an additional 1,743,342 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Fidelity National Financial by 0.9% in the 4th quarter. First Eagle Investment Management LLC now owns 6,102,523 shares of the financial services provider's stock worth $333,137,000 after purchasing an additional 54,756 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Wall Street Analysts Forecast Growth

FNF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Fidelity National Financial from $67.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, June 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. National Bank Financial set a $51.00 price objective on Fidelity National Financial in a report on Tuesday, July 7th. Barclays boosted their price objective on Fidelity National Financial from $50.00 to $51.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Finally, Stephens cut their price objective on Fidelity National Financial from $61.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $56.00.

Fidelity National Financial Stock Up 3.6%

NYSE:FNF opened at $51.92 on Friday. The firm has a market capitalization of $13.97 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96. The stock has a 50 day moving average of $48.07 and a 200-day moving average of $50.23. Fidelity National Financial, Inc. has a 52 week low of $42.78 and a 52 week high of $61.40. The company has a current ratio of 0.25, a quick ratio of 0.25 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, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The firm's revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts predict that Fidelity National Financial, Inc. will post 5.24 EPS for the current year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.08 annualized dividend and a yield of 4.0%. Fidelity National Financial's dividend payout ratio (DPR) is currently 75.91%.

Insider Transactions at Fidelity National Financial

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the sale, the executive vice president directly owned 5,702 shares in the company, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.70% of the company's stock.

Fidelity National Financial Profile

Fidelity National Financial NYSE: FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.

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