Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 24,509 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Fidelity National Financial, Inc. by 26.7% in the first quarter, leaving it with 67,269 shares valued at approximately $4.38 million.
• Barclays PLC has lowered its price target for Fidelity National Financial from $67 to $65, now rating the stock as "equal weight" while maintaining a consensus rating of "Moderate Buy" among analysts.
• Fidelity National Financial recently declared a $0.50 quarterly dividend, resulting in an annualized yield of 3.4%, with the dividend payout ratio currently at 50.76%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,269 shares of the financial services provider's stock after selling 24,509 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Fidelity National Financial were worth $4,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Fidelity National Financial by 4.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,011 shares of the financial services provider's stock worth $652,000 after buying an additional 382 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Fidelity National Financial by 6.8% during the 1st quarter. Russell Investments Group Ltd. now owns 102,309 shares of the financial services provider's stock worth $6,658,000 after buying an additional 6,486 shares during the last quarter. Prudential PLC bought a new stake in shares of Fidelity National Financial during the 1st quarter worth $215,000. Resona Asset Management Co. Ltd. lifted its position in shares of Fidelity National Financial by 5.1% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 77,446 shares of the financial services provider's stock worth $5,037,000 after buying an additional 3,783 shares during the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Fidelity National Financial by 3.8% during the 1st quarter. Independent Advisor Alliance now owns 5,818 shares of the financial services provider's stock worth $379,000 after buying an additional 211 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Fidelity National Financial Trading Down 0.3%

Shares of FNF stock traded down $0.1850 on Wednesday, hitting $59.2850. The company had a trading volume of 967,134 shares, compared to its average volume of 1,593,046. The firm has a market cap of $16.11 billion, a P/E ratio of 15.05 and a beta of 1.02. The stock's 50-day moving average is $56.36 and its two-hundred day moving average is $58.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24. 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 issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.24). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Fidelity National Financial's dividend payout ratio is presently 50.76%.

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.