Fidelity National Financial, Inc. $FNF Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC reduced its holdings in Fidelity National Financial by 26.7%, selling 18,265 shares, which leaves them with a stake worth approximately $3.26 million.
• The company declared a quarterly dividend of $0.50 per share, which translates to a 3.3% dividend yield based on the most recent stock price.
• Fidelity National Financial's last earnings report revealed a miss in EPS estimates with a reported $1.16 compared to analysts' expectations of $1.40, despite a year-over-year revenue increase of 15.1%.

Empowered Funds LLC lowered its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 50,073 shares of the financial services provider's stock after selling 18,265 shares during the quarter. Empowered Funds LLC's holdings in Fidelity National Financial were worth $3,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted 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 buying an additional 120,595 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 588,113 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 buying an additional 121,096 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Fidelity National Financial by 93.3% in the 1st quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider's stock worth $244,967,000 after buying an additional 1,817,124 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Fidelity National Financial during the first quarter valued at $178,433,000. Hedge funds and other institutional investors own 81.17% of the company's stock.

Fidelity National Financial Stock Up 0.9%

NYSE FNF traded up $0.52 on Thursday, reaching $59.25. 513,477 shares of the stock traded hands, compared to its average volume of 1,533,131. The company has a fifty day moving average price of $58.06 and a 200-day moving average price of $59.01. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 15.04 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 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 for the quarter, compared to analysts' expectations of $3.64 billion. Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. As a group, research 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 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 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is currently 50.76%.

Wall Street Analyst Weigh In

Separately, Barclays lowered their target price on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average 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.