Aigen Investment Management LP Buys 34,497 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Aigen Investment Management LP significantly increased its stake in Fidelity National Financial, Inc. by 624.6% during the first quarter, owning a total of 40,020 shares worth $2,605,000.
• Fidelity National Financial reported $1.16 earnings per share for the last quarter, missing analysts' expectations of $1.40, despite a 15.1% year-over-year revenue increase to $3.64 billion.
• The firm declared a quarterly dividend of $0.50 per share, translating to an annualized yield of 3.4% and a payout ratio of 49.5%.

Aigen Investment Management LP grew its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 624.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,020 shares of the financial services provider's stock after acquiring an additional 34,497 shares during the period. Aigen Investment Management LP's holdings in Fidelity National Financial were worth $2,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Fidelity National Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider's stock valued at $1,768,543,000 after acquiring an additional 120,595 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Fidelity National Financial by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock valued at $585,785,000 after buying an additional 588,113 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Fidelity National Financial by 1.5% during the 1st quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock valued at $534,585,000 after buying an additional 121,096 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fidelity National Financial by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,385,420 shares of the financial services provider's stock valued at $190,060,000 after buying an additional 16,095 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Fidelity National Financial by 19.9% during the 4th quarter. Northern Trust Corp now owns 2,515,286 shares of the financial services provider's stock valued at $141,208,000 after buying an additional 418,234 shares in the last quarter. 81.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Barclays lowered 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 research note on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Fidelity National Financial has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Trading Up 2.5%

Shares of FNF stock traded up $1.47 during mid-day trading on Tuesday, reaching $59.95. The stock had a trading volume of 1,433,167 shares, compared to its average volume of 1,841,947. The stock's 50-day moving average price is $55.82 and its two-hundred day moving average price is $58.82. Fidelity National Financial, Inc. has a 52-week low of $50.61 and a 52-week high of $66.72. The firm has a market capitalization of $16.29 billion, a PE ratio of 15.21 and a beta of 1.02. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

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

Fidelity National Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Fidelity National Financial's payout ratio is presently 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.