Forsta AP Fonden Cuts Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Forsta AP Fonden reduced its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 44.6%, selling 35,600 shares during the first quarter, bringing its total ownership to 44,200 shares worth approximately $2.88 million.
• Fidelity National Financial announced a quarterly dividend of $0.50 per share to be paid on September 30th, representing an annualized yield of 3.4% with a payout ratio of 50.76%.
• The company's stock has shown fluctuations, with a current market cap of $15.90 billion and a price-to-earnings ratio of 14.85, while analysts maintain a consensus target price of $71.20.

Forsta AP Fonden reduced its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 44.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,200 shares of the financial services provider's stock after selling 35,600 shares during the quarter. Forsta AP Fonden's holdings in Fidelity National Financial were worth $2,877,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FNF. Cary Street Partners Investment Advisory LLC grew its stake in Fidelity National Financial by 80.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 468 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 208 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Fidelity National Financial in the first quarter valued at approximately $32,000. Capital Analysts LLC acquired a new stake in Fidelity National Financial in the fourth quarter valued at approximately $29,000. Synergy Investment Management LLC acquired a new stake in Fidelity National Financial in the first quarter valued at approximately $36,000. Finally, Olde Wealth Management LLC acquired a new stake in Fidelity National Financial in the first quarter valued at approximately $40,000. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Stock Down 1.3%

Shares of NYSE:FNF traded down $0.79 during mid-day trading on Friday, hitting $59.67. 1,237,705 shares of the company traded hands, compared to its average volume of 1,749,795. The stock has a market cap of $16.21 billion, a P/E ratio of 15.14 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, Inc. has a 12-month low of $50.61 and a 12-month high of $66.72. The stock has a 50-day moving average price of $56.19 and a two-hundred day moving average price of $58.85.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.24). The company had revenue of $3.64 billion for 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%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 EPS. On average, equities research analysts forecast that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.50 per share. 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 payout ratio is presently 50.76%.

Analysts Set New Price Targets

Separately, Barclays reduced 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 note 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, the stock currently has a consensus rating of "Moderate Buy" and an average 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.