Mitsubishi UFJ Asset Management Co. Ltd. Buys 27,519 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Fidelity National Financial by 14.0%, acquiring an additional 27,519 shares, bringing its total to 223,385 shares valued at approximately $14.5 million.
• Fidelity National Financial recently reported a 12-month low of $50.61 and a high of $66.72, with a current PE ratio of 14.85 and a market capitalization of $15.90 billion.
• The company announced a quarterly dividend of $0.50 per share, yielding 3.4%, with a payout ratio of 50.76% slated for payment on September 30th.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,385 shares of the financial services provider's stock after purchasing an additional 27,519 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Fidelity National Financial worth $14,538,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Fidelity National Financial by 0.4% in the first quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider's stock valued at $1,768,543,000 after purchasing an additional 120,595 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Fidelity National Financial by 7.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock valued at $585,785,000 after purchasing an additional 588,113 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Fidelity National Financial by 1.5% in the first quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock valued at $534,585,000 after purchasing an additional 121,096 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Fidelity National Financial by 0.5% in 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 in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Fidelity National Financial by 19.9% in the fourth quarter. Northern Trust Corp now owns 2,515,286 shares of the financial services provider's stock valued at $141,208,000 after purchasing an additional 418,234 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays reduced their target price on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.20.

Fidelity National Financial Stock Down 1.3%

Fidelity National Financial stock traded down $0.79 during mid-day trading on Friday, hitting $59.67. 1,237,705 shares of the company's stock were exchanged, compared to its average volume of 1,749,795. 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 stock has a market cap of $16.21 billion, a P/E ratio of 15.14 and a beta of 1.02. Fidelity National Financial, Inc. has a 1-year low of $50.61 and a 1-year high of $66.72. The stock has a 50 day moving average of $56.19 and a two-hundred day moving average of $58.85.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.24). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.64 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share. As a group, analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is currently 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.