Fidelity National Financial, Inc. $FNF Stock Holdings Lowered by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP cut its Fidelity National Financial stake by 25.7% in the third quarter, selling 1.23 million shares. It still held 3.54 million shares worth approximately $137 million, representing 1.32% of FNF.
• FNF reported quarterly earnings of $1.39 per share, beating estimates of $1.31, while revenue reached $4.05 billion—up 11.4% year over year. The company also pays a quarterly dividend of $0.52, yielding about 5.1% annually.
• Shares opened at $40.62, well below their 52-week high of $60.37. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.20, although some firms recently lowered their targets.

Cooke & Bieler LP lessened its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 25.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,543,952 shares of the financial services provider's stock after selling 1,226,822 shares during the quarter. Fidelity National Financial accounts for approximately 2.0% of Cooke & Bieler LP's holdings, making the stock its 12th largest holding. Cooke & Bieler LP owned 1.32% of Fidelity National Financial worth $136,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC lifted its holdings in shares of Fidelity National Financial by 20.1% during the 3rd quarter. Axxcess Wealth Management LLC now owns 7,428 shares of the financial services provider's stock valued at $287,000 after purchasing an additional 1,244 shares in the last quarter. Net Worth Advisory Group grew its position in shares of Fidelity National Financial by 21.4% in the 3rd quarter. Net Worth Advisory Group now owns 5,857 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 1,034 shares during the period. Focused Alpha LLC grew its position in shares of Fidelity National Financial by 4.8% in the 3rd quarter. Focused Alpha LLC now owns 8,928 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 405 shares during the period. IFP Advisors Inc grew its position in shares of Fidelity National Financial by 19.0% in the 3rd quarter. IFP Advisors Inc now owns 99,410 shares of the financial services provider's stock valued at $3,842,000 after purchasing an additional 15,890 shares during the period. Finally, TD Waterhouse Canada Inc. increased its stake in Fidelity National Financial by 183.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 850 shares of the financial services provider's stock worth $33,000 after purchasing an additional 550 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Stock Performance

FNF opened at $40.62 on Thursday. The business's 50-day moving average price is $43.41 and its two-hundred day moving average price is $47.05. Fidelity National Financial, Inc. has a 1 year low of $37.88 and a 1 year high of $60.37. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.62 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.26 and a quick ratio of 0.26.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.79 billion. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. Equities analysts expect that Fidelity National Financial, Inc. will post 5.05 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.52 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.08 annualized dividend and a yield of 5.1%. Fidelity National Financial's payout ratio is presently 73.50%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FNF. Barclays dropped their target price on shares of Fidelity National Financial from $54.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, October 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fidelity National Financial in a research note on Tuesday, September 8th. Zacks Research upgraded shares of Fidelity National Financial from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. National Bank Financial set a $54.00 price objective on shares of Fidelity National Financial in a research report on Friday, August 7th. Finally, Truist Financial lowered their price objective on shares of Fidelity National Financial from $70.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.20.

Fidelity National Financial Profile

Fidelity National Financial, Inc NYSE: FNF is a provider of title insurance and transaction services in the United States. Through its title insurance businesses, the company protects property buyers, lenders and other parties against certain risks associated with real estate ownership and transfers. Its services include title searches, title examinations, escrow and closing services, and related technology and transaction-support solutions.

FNF operates through a group of title insurance brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.

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