Fidelity National Financial, Inc. $FNF Shares Sold by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. significantly reduced its stake in Fidelity National Financial by 38.3%, selling 15,096 shares and ending with 24,306 shares valued at $1,363,000.
• In contrast, Robeco Institutional Asset Management increased its holdings by 342.8%, now owning 275,668 shares valued at $15,454,000.
• Fidelity National Financial announced a quarterly dividend of $0.50 per share, providing an annual yield of 3.3%, with a payout ratio of 50.76%.

Lecap Asset Management Ltd. lowered its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 38.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,306 shares of the financial services provider's stock after selling 15,096 shares during the period. Lecap Asset Management Ltd.'s holdings in Fidelity National Financial were worth $1,363,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in Fidelity National Financial by 342.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 275,668 shares of the financial services provider's stock valued at $15,454,000 after purchasing an additional 213,411 shares during the period. Woodward Diversified Capital LLC purchased a new position in shares of Fidelity National Financial in the second quarter valued at $269,000. Hudson Value Partners LLC boosted its stake in Fidelity National Financial by 1.5% during the 2nd quarter. Hudson Value Partners LLC now owns 90,430 shares of the financial services provider's stock valued at $5,070,000 after acquiring an additional 1,366 shares during the last quarter. Lynx Investment Advisory boosted its stake in Fidelity National Financial by 3.3% during the 2nd quarter. Lynx Investment Advisory now owns 8,689 shares of the financial services provider's stock valued at $487,000 after acquiring an additional 276 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Fidelity National Financial by 2.3% during the 2nd quarter. Truist Financial Corp now owns 88,381 shares of the financial services provider's stock valued at $4,955,000 after acquiring an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped their target price on shares of 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Fidelity National Financial presently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Trading Down 0.3%

NYSE:FNF opened at $60.33 on Thursday. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 15.31 and a beta of 1.05. 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 company's 50 day moving average is $59.20 and its 200-day moving average is $58.77.

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

Fidelity National Financial Dividend Announcement

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

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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