Federated Hermes Inc. Purchases 6,608 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Federated Hermes Inc. increased its stake in Fidelity National Financial by 4.7%, now owning 146,014 shares valued at approximately $9.5 million.
• Fidelity National Financial reported a loss in earnings per share of $0.78 for the last quarter, missing estimates by $0.35, and saw a 17.3% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.50 per share, representing an annual yield of 3.5%, with a payout ratio of 49.5%.

Federated Hermes Inc. increased its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,014 shares of the financial services provider's stock after buying an additional 6,608 shares during the period. Federated Hermes Inc. owned 0.05% of Fidelity National Financial worth $9,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FNF. Invesco Ltd. grew its holdings in Fidelity National Financial by 53.3% during the fourth quarter. Invesco Ltd. now owns 2,199,684 shares of the financial services provider's stock valued at $123,490,000 after purchasing an additional 764,958 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Fidelity National Financial by 99.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,437,460 shares of the financial services provider's stock valued at $80,689,000 after buying an additional 715,070 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Fidelity National Financial by 135.8% in the fourth quarter. AQR Capital Management LLC now owns 1,167,485 shares of the financial services provider's stock valued at $65,543,000 after buying an additional 672,323 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Fidelity National Financial by 8,302.5% in the first quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider's stock valued at $40,783,000 after buying an additional 619,197 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Fidelity National Financial in the fourth quarter valued at approximately $33,103,000. 81.17% of the stock is owned by institutional investors.

Fidelity National Financial Stock Up 2.5%

Shares of FNF stock traded up $1.43 during trading on Monday, reaching $58.01. The company's stock had a trading volume of 929,847 shares, compared to its average volume of 2,654,962. The business has a fifty day moving average price of $55.24 and a 200-day moving average price of $58.81. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.50. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 12.14 and a beta of 1.02. Fidelity National Financial, Inc. has a one year low of $50.61 and a one year high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.35). The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $3.32 billion. Fidelity National Financial had a return on equity of 14.88% and a net margin of 8.43%. The business's revenue for the quarter was down 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. Analysts anticipate that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 16th were given 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 was Monday, June 16th. Fidelity National Financial's payout ratio is currently 49.50%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FNF shares. Keefe, Bruyette & Woods upgraded shares of Fidelity National Financial from a "market perform" rating to an "outperform" rating and set a $69.00 price target for the company in a report on Tuesday, April 8th. Barclays reduced their price target 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.20.

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.