Fidelity National Financial, Inc. $FNF Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Fidelity National Financial by 7.5%, selling 13,258 shares, and now owns approximately $9.14 million worth of stock.
• Fidelity National Financial reported a quarterly EPS of $1.16, falling short of analysts' expectations of $1.40, despite a 15.1% increase in revenue year-over-year.
• The firm declared a quarterly dividend of $0.50, which results in an annual yield of 3.3% based on the current stock price.

Public Employees Retirement System of Ohio decreased its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,092 shares of the financial services provider's stock after selling 13,258 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of Fidelity National Financial worth $9,143,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Fidelity National Financial by 80.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 468 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 208 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Fidelity National Financial in the first quarter worth about $32,000. Rise Advisors LLC acquired a new stake in Fidelity National Financial in the first quarter worth about $32,000. Synergy Investment Management LLC acquired a new stake in Fidelity National Financial in the first quarter worth about $36,000. Finally, Olde Wealth Management LLC acquired a new stake in Fidelity National Financial in the first quarter worth about $40,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Price Performance

Shares of Fidelity National Financial stock opened at $60.38 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The company's 50-day moving average price is $58.91 and its two-hundred day moving average price is $58.81. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The stock has a market cap of $16.41 billion, a PE ratio of 15.33 and a beta of 1.05.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 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 business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $1.24 earnings per share. Fidelity National Financial's revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 annualized dividend and a yield of 3.3%. Fidelity National Financial's payout ratio is 50.76%.

Wall Street Analysts Forecast Growth

Separately, Barclays reduced their price objective on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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