Pallas Capital Advisors LLC Cuts Holdings in Fidelity National Financial, Inc. $FNF

Key Points

• Pallas Capital Advisors LLC reduced its stake in Fidelity National Financial by 42.1%, now holding 7,087 shares worth approximately $397,000.
• Fidelity National Financial reported $1.16 EPS for the most recent quarter, missing estimates by ($0.24) while revenue matched expectations at $3.64 billion.
• The company has announced a quarterly dividend of $0.50, equating to an annualized yield of 3.4%, with a payout ratio of 50.76%.

Pallas Capital Advisors LLC trimmed its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 42.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,087 shares of the financial services provider's stock after selling 5,154 shares during the quarter. Pallas Capital Advisors LLC's holdings in Fidelity National Financial were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FNF. Arvest Investments Inc. bought a new position in shares of Fidelity National Financial during the second quarter worth about $249,000. Voya Investment Management LLC raised its position in shares of Fidelity National Financial by 9.2% during the first quarter. Voya Investment Management LLC now owns 42,848 shares of the financial services provider's stock worth $2,789,000 after acquiring an additional 3,597 shares during the last quarter. Howe & Rusling Inc. bought a new position in shares of Fidelity National Financial during the first quarter worth about $203,000. Lynx Investment Advisory raised its position in shares of Fidelity National Financial by 6.0% during the first quarter. Lynx Investment Advisory now owns 8,413 shares of the financial services provider's stock worth $548,000 after acquiring an additional 477 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Fidelity National Financial during the first quarter worth about $1,808,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their price objective on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Stock Up 0.7%

Shares of Fidelity National Financial stock traded up $0.41 on Tuesday, hitting $59.26. The company had a trading volume of 227,317 shares, compared to its average volume of 1,539,830. Fidelity National Financial, Inc. has a 1 year low of $50.61 and a 1 year high of $66.72. 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 stock has a 50 day moving average of $58.45 and a 200-day moving average of $58.85. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 15.04 and a beta of 1.05.

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

Fidelity National Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 annualized dividend and a yield of 3.4%. Fidelity National Financial's payout ratio is 50.76%.

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.