Korea Investment CORP Sells 46,204 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Korea Investment CORP reduced its stake in Fidelity National Financial, Inc. by 17.7% in Q1, now owning approximately $13.97 million worth of shares.
• Despite recent stake reductions by some investors, other firms like Pallas Capital Advisors LLC increased their holdings significantly, by 109.7% in Q1.
• Fidelity National Financial reported a missed EPS estimate of $1.16 for the last quarter, compared to a consensus of $1.40, though revenue increased by 15.1% year-over-year.

Korea Investment CORP decreased its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 17.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 214,617 shares of the financial services provider's stock after selling 46,204 shares during the period. Korea Investment CORP owned approximately 0.08% of Fidelity National Financial worth $13,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pallas Capital Advisors LLC grew its holdings in shares of Fidelity National Financial by 109.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 12,241 shares of the financial services provider's stock valued at $797,000 after buying an additional 6,405 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Fidelity National Financial by 5.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 23,189 shares of the financial services provider's stock valued at $1,509,000 after buying an additional 1,267 shares during the period. Private Trust Co. NA grew its holdings in shares of Fidelity National Financial by 38.7% in the 1st quarter. Private Trust Co. NA now owns 738 shares of the financial services provider's stock valued at $48,000 after buying an additional 206 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Fidelity National Financial by 4.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 85,118 shares of the financial services provider's stock valued at $5,540,000 after buying an additional 3,510 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Fidelity National Financial by 3.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 97,207 shares of the financial services provider's stock valued at $6,326,000 after buying an additional 2,807 shares during the period. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Stock Down 0.6%

NYSE:FNF traded down $0.37 on Monday, hitting $60.45. 547,066 shares of the company's stock were exchanged, compared to its average volume of 1,576,574. The firm has a 50-day moving average price of $56.61 and a 200-day moving average price of $58.91. 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, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a market cap of $16.43 billion, a P/E ratio of 15.34 and a beta of 1.02.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.24). Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the firm earned $1.24 earnings per share. The company's quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 annualized dividend and a yield of 3.3%. Fidelity National Financial's payout ratio is 50.76%.

Wall Street Analyst Weigh In

Separately, Barclays cut their price objective on shares of 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. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Fidelity National Financial has a consensus rating of "Moderate Buy" and a consensus price target of $71.20.

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.