Jump Financial LLC Buys 50,277 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Jump Financial LLC significantly increased its stake in Fidelity National Financial by 994.2% during the first quarter, bringing its total holdings to $3.60 million.
• Fidelity National Financial reported $1.16 earnings per share for the last quarter, falling short of analysts' estimates by $0.24, but its quarterly revenue rose by 15.1% year-over-year.
• The company is set to pay a quarterly dividend of $0.50 per share on September 30, 2023, resulting in an annual yield of 3.3%.

Jump Financial LLC lifted its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 994.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,334 shares of the financial services provider's stock after buying an additional 50,277 shares during the quarter. Jump Financial LLC's holdings in Fidelity National Financial were worth $3,601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. SVB Wealth LLC acquired a new stake in shares of Fidelity National Financial during the 1st quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Fidelity National Financial by 74.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the financial services provider's stock worth $59,000 after buying an additional 385 shares during the period. AlphaQuest LLC grew its position in shares of Fidelity National Financial by 303.9% during the 1st quarter. AlphaQuest LLC now owns 9,031 shares of the financial services provider's stock worth $588,000 after buying an additional 6,795 shares during the period. Allstate Corp grew its position in shares of Fidelity National Financial by 22.8% during the 1st quarter. Allstate Corp now owns 8,867 shares of the financial services provider's stock worth $577,000 after buying an additional 1,649 shares during the period. Finally, Compound Planning Inc. grew its position in shares of Fidelity National Financial by 35.3% during the 1st quarter. Compound Planning Inc. now owns 8,135 shares of the financial services provider's stock worth $529,000 after buying an additional 2,123 shares during the period. Institutional investors and hedge funds own 81.17% of the company's stock.

Analysts Set New Price Targets

Separately, Barclays reduced their price objective on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Fidelity National Financial presently has a consensus rating of "Moderate Buy" and an average price target of $71.20.

Fidelity National Financial Stock Up 0.5%

Shares of FNF traded up $0.32 during trading hours on Friday, reaching $59.94. The stock had a trading volume of 984,600 shares, compared to its average volume of 1,561,608. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72. The firm has a 50-day simple moving average of $57.20 and a 200 day simple moving average of $58.98. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $16.29 billion, a price-to-earnings ratio of 15.21 and a beta of 1.02.

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 the consensus estimate of $1.40 by ($0.24). Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $1.24 earnings per share. Fidelity National Financial's revenue was up 15.1% on a year-over-year basis. Equities research analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 annualized dividend and a yield of 3.3%. Fidelity National Financial's dividend payout ratio (DPR) is 50.76%.

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.