Jupiter Asset Management Ltd. Reduces Position in Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Fidelity National Financial by 16.6%, owning 485,109 shares valued at approximately $31.57 million as of the latest SEC filing.
• Fidelity National Financial reported earnings of $0.78 per share for the latest quarter, missing estimates by $0.35 and showing a 17.3% decline in revenue year-over-year.
• The company announced a quarterly dividend payment of $0.50 per share, with an annualized dividend yield of 3.5%, and its current payout ratio stands at 49.50%.

Jupiter Asset Management Ltd. cut its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,109 shares of the financial services provider's stock after selling 96,826 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.18% of Fidelity National Financial worth $31,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Analysts LLC acquired a new stake in Fidelity National Financial in the 4th quarter worth $29,000. Opal Wealth Advisors LLC bought a new stake in shares of Fidelity National Financial during the first quarter worth $32,000. Synergy Investment Management LLC bought a new position in shares of Fidelity National Financial in the 1st quarter valued at about $36,000. Olde Wealth Management LLC acquired a new stake in shares of Fidelity National Financial during the 1st quarter worth about $40,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Fidelity National Financial in the 4th quarter worth about $44,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Fidelity National Financial Stock Performance

NYSE FNF traded up $0.17 during trading hours on Wednesday, hitting $58.26. 886,092 shares of the company's stock traded hands, compared to its average volume of 1,602,157. The business's fifty day moving average price is $55.40 and its two-hundred day moving average price is $58.80. The firm has a market capitalization of $16.00 billion, a P/E ratio of 14.42 and a beta of 1.02. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.35). The business had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $3.32 billion. Fidelity National Financial had a net margin of 8.43% and a return on equity of 14.88%. The company's revenue for the quarter was down 17.3% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. Equities research analysts predict 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 was paid on Friday, June 13th. Stockholders of record on Monday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, June 16th. Fidelity National Financial's payout ratio is currently 49.50%.

Fidelity National Financial Company 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.