Graham Capital Management L.P. Takes $3.15 Million Position in Fidelity National Financial, Inc. $FNF

Key Points

• Graham Capital Management L.P. acquired 48,426 shares of Fidelity National Financial, valued at around $3.15 million, as per its latest SEC filing.
• Fidelity National Financial reported a Q2 earnings per share of $1.16, below the consensus estimate of $1.40, with a revenue of $3.64 billion.
• The firm declared a quarterly dividend of $0.50 per share, which will be paid on September 30th, reflecting an annualized yield of 3.3%.

Graham Capital Management L.P. acquired a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 48,426 shares of the financial services provider's stock, valued at approximately $3,152,000.

Several other large investors have also modified their holdings of FNF. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Fidelity National Financial by 80.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 468 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 208 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Fidelity National Financial during the 1st quarter worth approximately $32,000. Synergy Investment Management LLC purchased a new stake in Fidelity National Financial during the 1st quarter worth approximately $36,000. Olde Wealth Management LLC acquired a new stake in shares of Fidelity National Financial in the first quarter worth $40,000. Finally, SVB Wealth LLC acquired a new stake in shares of Fidelity National Financial in the first quarter worth $41,000. Institutional investors own 81.17% of the company's stock.

Fidelity National Financial Trading Up 1.7%

Fidelity National Financial stock traded up $1.01 during midday trading on Wednesday, hitting $59.62. 1,213,641 shares of the stock were exchanged, compared to its average volume of 1,125,050. Fidelity National Financial, Inc. has a fifty-two week low of $50.61 and a fifty-two week high of $66.72. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 15.13 and a beta of 1.05. The stock's 50-day simple moving average is $57.42 and its 200 day simple moving average is $59.02. 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 (NYSE:FNF - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.64 billion for 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%.Fidelity National Financial's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 earnings per share. On average, equities analysts anticipate 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is 50.76%.

Analyst Ratings Changes

Separately, Barclays cut 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 research note on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.