LPL Financial LLC Acquires 41,432 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• LPL Financial LLC increased its stake in Fidelity National Financial by 17.7%, purchasing an additional 41,432 shares during Q1, bringing its total ownership to 275,148 shares valued at $17.9 million.
• Fidelity National Financial reported earnings per share (EPS) of $1.16 for the last quarter, missing consensus estimates, although its revenue rose by 15.1% year-over-year.
• The firm announced a quarterly dividend of $0.50 per share, translating to an annualized dividend yield of 3.4% and a payout ratio of 49.50%.

LPL Financial LLC raised its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 17.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 275,148 shares of the financial services provider's stock after purchasing an additional 41,432 shares during the period. LPL Financial LLC owned 0.10% of Fidelity National Financial worth $17,907,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Fidelity National Financial by 421.4% during the 4th quarter. Wellington Management Group LLP now owns 35,223 shares of the financial services provider's stock valued at $1,977,000 after acquiring an additional 28,468 shares during the period. Wells Fargo & Company MN raised its holdings in Fidelity National Financial by 0.5% during the fourth quarter. Wells Fargo & Company MN now owns 588,461 shares of the financial services provider's stock worth $33,036,000 after buying an additional 2,832 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Fidelity National Financial during the fourth quarter worth $4,137,000. Dynamic Technology Lab Private Ltd acquired a new position in Fidelity National Financial during the fourth quarter worth $538,000. Finally, Envestnet Asset Management Inc. raised its holdings in Fidelity National Financial by 1.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 888,547 shares of the financial services provider's stock worth $49,883,000 after buying an additional 9,645 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Stock Up 0.7%

NYSE:FNF traded up $0.39 on Friday, hitting $58.31. The stock had a trading volume of 1,091,854 shares, compared to its average volume of 2,210,690. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.25 and a current ratio of 42.06. The stock has a market cap of $16.01 billion, a P/E ratio of 14.80 and a beta of 1.02. Fidelity National Financial, Inc. has a 1 year low of $50.61 and a 1 year high of $66.72. The firm's fifty day simple moving average is $55.64 and its two-hundred day simple moving average is $58.79.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.93% and a return on equity of 14.68%. The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter last year, the business posted $1.24 EPS. The company's quarterly revenue was up 15.1% on a year-over-year basis. Analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The business 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's payout ratio is 49.50%.

Wall Street Analyst Weigh In

Separately, Barclays lowered their price objective 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Fidelity National Financial 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.