Fidelity National Financial, Inc. $FNF Shares Purchased by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in Fidelity National Financial by 93.3%, acquiring an additional 1,817,124 shares during the 1st quarter, bringing their total ownership to approximately 3,764,086 shares valued at $244.97 million.
• Fidelity National Financial reported a Q2 EPS of $1.16, which missed analysts' consensus estimates of $1.40, despite a revenue that met expectations at $3.64 billion.
• The company declared a quarterly dividend of $0.50 per share, to be paid on September 30th, representing an annualized yield of 3.3%.

Millennium Management LLC lifted its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 93.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,764,086 shares of the financial services provider's stock after acquiring an additional 1,817,124 shares during the period. Millennium Management LLC owned 1.37% of Fidelity National Financial worth $244,967,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Fidelity National Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider's stock worth $1,768,543,000 after purchasing an additional 120,595 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fidelity National Financial by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock worth $585,785,000 after acquiring an additional 588,113 shares during the last quarter. Victory Capital Management Inc. grew its stake in Fidelity National Financial by 1.5% in the 1st quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock worth $534,585,000 after acquiring an additional 121,096 shares during the period. Nuveen LLC acquired a new position in Fidelity National Financial in the 1st quarter valued at $178,433,000. Finally, Royal Bank of Canada raised its holdings in Fidelity National Financial by 0.3% in the 1st quarter. Royal Bank of Canada now owns 2,007,085 shares of the financial services provider's stock valued at $130,621,000 after acquiring an additional 5,205 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Trading Down 0.8%

Shares of FNF stock traded down $0.48 on Tuesday, reaching $59.98. 1,085,703 shares of the stock were exchanged, compared to its average volume of 1,553,094. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.50. The stock has a market cap of $16.30 billion, a P/E ratio of 15.22 and a beta of 1.05. The firm has a 50 day moving average of $57.67 and a two-hundred day moving average of $59.08. Fidelity National Financial, Inc. has a 1-year low of $50.61 and a 1-year high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced 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). The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The business's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. On average, research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

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. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's payout ratio is 50.76%.

Analyst Upgrades and Downgrades

Separately, Barclays decreased their price objective on 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. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Fidelity National Financial presently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

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.