Fidelity National Financial, Inc. $FNF Shares Sold by National Pension Service

Key Points

• National Pension Service significantly reduced its holdings in Fidelity National Financial by 86.4%, selling 429,305 shares and now owning 67,295 shares worth approximately $4.38 million.
• Fidelity National Financial reported earnings per share (EPS) of $1.16 for the last quarter, missing analysts' estimates of $1.40, although revenue matched expectations at $3.64 billion.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 3.4%, payable on September 30th.

National Pension Service cut its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 86.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,295 shares of the financial services provider's stock after selling 429,305 shares during the period. National Pension Service's holdings in Fidelity National Financial were worth $4,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FNF. Nuveen LLC purchased a new stake in Fidelity National Financial during the 1st quarter valued at approximately $178,433,000. Hsbc Holdings PLC raised its stake in Fidelity National Financial by 99.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,437,460 shares of the financial services provider's stock valued at $80,689,000 after acquiring an additional 715,070 shares during the last quarter. AQR Capital Management LLC raised its stake in Fidelity National Financial by 135.8% during the 4th quarter. AQR Capital Management LLC now owns 1,167,485 shares of the financial services provider's stock valued at $65,543,000 after acquiring an additional 672,323 shares during the last quarter. GAMMA Investing LLC raised its stake in Fidelity National Financial by 8,302.5% during the 1st quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider's stock valued at $40,783,000 after acquiring an additional 619,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 588,113 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their target price on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Price Performance

Shares of FNF traded up $0.8040 on Tuesday, reaching $59.4940. The stock had a trading volume of 1,301,460 shares, compared to its average volume of 1,462,140. The firm has a market capitalization of $16.17 billion, a PE ratio of 15.10 and a beta of 1.02. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $56.36 and a 200 day moving average of $58.87. Fidelity National Financial, Inc. has a twelve month low of $50.61 and a twelve month high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share 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 analyst estimates of $3.64 billion. Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The business's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Sell-side analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is 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.