Man Group plc Sells 328,331 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Man Group plc cut its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 70.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,995 shares of the financial services provider's stock after selling 328,331 shares during the quarter. Man Group plc's holdings in Fidelity National Financial were worth $7,579,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FNF. Vanguard Group Inc. boosted its position in Fidelity National Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 27,054,319 shares of the financial services provider's stock valued at $1,518,829,000 after purchasing an additional 150,493 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fidelity National Financial by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,412,888 shares of the financial services provider's stock valued at $472,300,000 after purchasing an additional 387,729 shares during the last quarter. Victory Capital Management Inc. boosted its position in Fidelity National Financial by 1.2% during the fourth quarter. Victory Capital Management Inc. now owns 8,093,184 shares of the financial services provider's stock valued at $454,351,000 after purchasing an additional 98,751 shares during the last quarter. Geode Capital Management LLC boosted its position in Fidelity National Financial by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 4,497,471 shares of the financial services provider's stock valued at $252,037,000 after purchasing an additional 34,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Fidelity National Financial by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,385,420 shares of the financial services provider's stock valued at $190,060,000 after purchasing an additional 16,095 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FNF. Stephens increased their price target on Fidelity National Financial from $68.00 to $75.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Keefe, Bruyette & Woods raised Fidelity National Financial from a "market perform" rating to an "outperform" rating and set a $69.00 price target for the company in a research report on Tuesday, April 8th. Barclays increased their price target on Fidelity National Financial from $61.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Finally, StockNews.com cut Fidelity National Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.60.

Fidelity National Financial Stock Performance

FNF opened at $57.99 on Tuesday. Fidelity National Financial, Inc. has a 12-month low of $47.79 and a 12-month high of $66.72. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 12.47 and a beta of 1.14. The business has a 50 day moving average of $62.13 and a 200-day moving average of $60.28. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.47.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.35). Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The business's quarterly revenue was down 17.3% on a year-over-year basis. On average, equities research analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 3.45%. Fidelity National Financial's payout ratio is currently 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.

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