Hennessy Advisors Inc. Acquires New Position in Fidelity National Financial, Inc. $FNF

Key Points

• Hennessy Advisors Inc. has acquired a new position in Fidelity National Financial, buying 133,300 shares valued at approximately $7,473,000.
• Fidelity National Financial reported $1.16 earnings per share for the last quarter, which was below analysts' expectations, while its revenue increased by 15.1% year-over-year.
• The company recently paid a quarterly dividend of $0.50 per share, representing a 3.3% dividend yield based on an annualized payout of $2.00.

Hennessy Advisors Inc. acquired a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 133,300 shares of the financial services provider's stock, valued at approximately $7,473,000.

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Fidelity National Financial by 80.0% during 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 buying an additional 208 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Fidelity National Financial during the 1st quarter valued at about $32,000. Rise Advisors LLC purchased a new position in shares of Fidelity National Financial during the 1st quarter valued at about $32,000. Synergy Investment Management LLC purchased a new position in shares of Fidelity National Financial during the 1st quarter valued at about $36,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Fidelity National Financial during the 1st quarter valued at about $40,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FNF. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Fidelity National Financial in a research note on Saturday, September 27th. Barclays decreased their price target on 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. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Fidelity National Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.20.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $59.96 on Friday. The firm has a market cap of $16.29 billion, a P/E ratio of 15.22 and a beta of 1.05. Fidelity National Financial, Inc. has a fifty-two week low of $50.61 and a fifty-two week high of $66.72. The business's 50 day moving average price is $59.32 and its 200-day moving average price is $58.70. 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 (NYSE:FNF - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.64 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. On average, equities research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is currently 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.

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