Jefferies Financial Group Inc. Takes Position in Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Fidelity National Financial, purchasing 64,206 shares valued at approximately $4.18 million.
• Fidelity National Financial's recent quarterly earnings report showed an EPS of $0.78, missing the consensus estimate by ($0.35) with a 17.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.50 per share, representing a 3.5% yield with a payout ratio of 49.50%.

Jefferies Financial Group Inc. bought a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 64,206 shares of the financial services provider's stock, valued at approximately $4,179,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNF. Pallas Capital Advisors LLC grew its holdings in shares of Fidelity National Financial by 109.7% in the first quarter. Pallas Capital Advisors LLC now owns 12,241 shares of the financial services provider's stock valued at $797,000 after acquiring an additional 6,405 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Fidelity National Financial by 5.8% in the first quarter. Oppenheimer & Co. Inc. now owns 23,189 shares of the financial services provider's stock valued at $1,509,000 after acquiring an additional 1,267 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Fidelity National Financial by 4.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 85,118 shares of the financial services provider's stock valued at $5,540,000 after purchasing an additional 3,510 shares during the period. Private Trust Co. NA grew its holdings in Fidelity National Financial by 38.7% during the first quarter. Private Trust Co. NA now owns 738 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Fidelity National Financial by 3.0% during the first quarter. Asset Management One Co. Ltd. now owns 97,207 shares of the financial services provider's stock valued at $6,326,000 after purchasing an additional 2,807 shares during the period. 81.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded Fidelity National Financial from a "market perform" rating to an "outperform" rating and set a $69.00 target price on the stock in a research report on Tuesday, April 8th. Barclays dropped their target price on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.20.

Fidelity National Financial Stock Up 0.3%

FNF traded up $0.17 on Wednesday, hitting $58.26. The company had a trading volume of 607,882 shares, compared to its average volume of 1,601,345. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. Fidelity National Financial, Inc. has a 52-week low of $50.61 and a 52-week high of $66.72. The stock has a fifty day simple moving average of $55.40 and a 200-day simple moving average of $58.80. The firm has a market capitalization of $16.00 billion, a P/E ratio of 14.43 and a beta of 1.02.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.35). Fidelity National Financial had a net margin of 8.43% and a return on equity of 14.88%. The business had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Fidelity National Financial's revenue for the quarter was down 17.3% on a year-over-year basis. As a group, equities analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, June 16th. Fidelity National Financial's payout ratio is presently 49.50%.

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.