Ieq Capital LLC Acquires 23,789 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Ieq Capital LLC increased its stake in Fidelity National Financial, Inc. by 30.6%, acquiring an additional 23,789 shares during the first quarter, bringing its total holdings to 101,655 shares valued at approximately $6.6 million.
• Barclays downgraded the price target for Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock, while four research analysts maintained a Buy rating.
• The company declared a quarterly dividend of $0.50 per share, with shareholders set to receive this payout on September 30th, 2023, resulting in an annualized yield of 3.4%.

Ieq Capital LLC raised its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 30.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 101,655 shares of the financial services provider's stock after purchasing an additional 23,789 shares during the quarter. Ieq Capital LLC's holdings in Fidelity National Financial were worth $6,616,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Islay Capital Management LLC acquired a new stake in shares of Fidelity National Financial during the first quarter worth $564,000. Walleye Capital LLC grew its holdings in Fidelity National Financial by 647.0% during the 1st quarter. Walleye Capital LLC now owns 58,263 shares of the financial services provider's stock worth $3,792,000 after acquiring an additional 50,463 shares during the period. Campbell & CO Investment Adviser LLC raised its position in shares of Fidelity National Financial by 7.8% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 50,152 shares of the financial services provider's stock worth $3,264,000 after acquiring an additional 3,638 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Fidelity National Financial by 994.2% in the 1st quarter. Jump Financial LLC now owns 55,334 shares of the financial services provider's stock valued at $3,601,000 after purchasing an additional 50,277 shares during the period. Finally, SVB Wealth LLC acquired a new position in shares of Fidelity National Financial in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays decreased 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 issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Stock Up 0.5%

Shares of FNF stock traded up $0.32 on Monday, reaching $59.94. 984,600 shares of the company were exchanged, compared to its average volume of 1,171,542. Fidelity National Financial, Inc. has a one year low of $50.61 and a one year high of $66.72. The company has a market cap of $16.29 billion, a price-to-earnings ratio of 15.21 and a beta of 1.05. The company has a 50-day moving average of $57.20 and a 200-day moving average of $59.01. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.24 and a quick ratio of 0.24.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted 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 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%.The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. Analysts anticipate that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued 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 is 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.