Ameriflex Group Inc. Cuts Position in Fidelity National Financial, Inc. $FNF

Key Points

• Ameriflex Group Inc. has reduced its holdings in Fidelity National Financial by 21.9%, now owning 28,670 shares valued at approximately $1.87 million.
• Barclays lowered its target price for Fidelity National Financial from $67.00 to $65.00, maintaining an "equal weight" rating, with analysts indicating an average price target of $71.20.
• Fidelity National Financial recently reported quarterly earnings of $1.16 per share, which was below the consensus estimate, alongside a declared dividend of $0.50 per share with a yield of 3.3%.

Ameriflex Group Inc. decreased its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,670 shares of the financial services provider's stock after selling 8,040 shares during the quarter. Fidelity National Financial accounts for about 0.8% of Ameriflex Group Inc.'s holdings, making the stock its 24th biggest holding. Ameriflex Group Inc.'s holdings in Fidelity National Financial were worth $1,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC raised its holdings in Fidelity National Financial by 336.5% during the first quarter. Cubist Systematic Strategies LLC now owns 307,513 shares of the financial services provider's stock worth $20,013,000 after purchasing an additional 237,063 shares in the last quarter. Royal Bank of Canada raised its position in Fidelity National Financial by 0.3% during 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 buying an additional 5,205 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of Fidelity National Financial during the 1st quarter worth $3,152,000. Quarry LP grew its stake in shares of Fidelity National Financial by 103.2% during the 1st quarter. Quarry LP now owns 2,760 shares of the financial services provider's stock worth $180,000 after purchasing an additional 1,402 shares during the period. Finally, Mubadala Investment Co PJSC acquired a new position in shares of Fidelity National Financial during the 1st quarter worth $2,733,000. Hedge funds and other institutional investors own 81.17% of the company's stock.

Fidelity National Financial Trading Up 0.2%

NYSE:FNF traded up $0.10 on Friday, reaching $60.52. The stock had a trading volume of 972,943 shares, compared to its average volume of 1,556,061. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 15.36 and a beta of 1.05. 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 firm's fifty day moving average is $57.50 and its two-hundred day moving average is $59.04. 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 released its earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.40 by ($0.24). The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. Equities analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is presently 50.76%.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their price objective on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.