MWA Asset Management Buys Shares of 34,414 Fidelity National Financial, Inc. $FNF

Key Points

• MWA Asset Management opened a new position in Fidelity National Financial, buying 34,414 shares worth about $1.69 million in the first quarter.
• Fidelity National Financial recently posted mixed quarterly results, with EPS of $0.93 missing estimates and revenue of $3.23 billion also below forecasts, though revenue still rose 18.2% year over year.
• The company paid a quarterly dividend of $0.52 per share, equal to a 4.1% annualized yield, while analysts currently rate the stock a consensus “Hold” with an average price target of $56.00.

MWA Asset Management purchased a new position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,414 shares of the financial services provider's stock, valued at approximately $1,687,000.

A number of other large investors have also made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in shares of Fidelity National Financial during the fourth quarter worth about $26,000. Commonwealth Retirement Investments LLC bought a new stake in Fidelity National Financial during the 4th quarter worth approximately $28,000. Headlands Technologies LLC acquired a new stake in Fidelity National Financial during the 2nd quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC lifted its stake in Fidelity National Financial by 57.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider's stock valued at $53,000 after buying an additional 353 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac acquired a new position in shares of Fidelity National Financial in the fourth quarter valued at approximately $58,000. Institutional investors own 81.17% of the company's stock.

Analyst Ratings Changes

FNF has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Stephens dropped their price target on Fidelity National Financial from $61.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. National Bank Financial set a $51.00 price objective on Fidelity National Financial in a research report on Tuesday, July 7th. Barclays increased their price objective on Fidelity National Financial from $50.00 to $51.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. Finally, Zacks Research cut Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $56.00.

Fidelity National Financial Price Performance

Shares of NYSE FNF opened at $50.84 on Tuesday. Fidelity National Financial, Inc. has a fifty-two week low of $42.78 and a fifty-two week high of $61.40. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. The business has a 50-day moving average of $48.15 and a 200-day moving average of $50.17.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.16). The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.61 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. As a group, sell-side analysts predict that Fidelity National Financial, Inc. will post 5.19 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 16th. Fidelity National Financial's dividend payout ratio is 75.91%.

Insider Buying and Selling

In other news, EVP Peter T. Sadowski sold 69,196 shares of Fidelity National Financial stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the transaction, the executive vice president owned 5,702 shares of the company's stock, valued at $260,581.40. This trade represents a 92.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.70% of the stock is currently owned by corporate insiders.

Fidelity National Financial Company Profile

Fidelity National Financial NYSE: FNF is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.

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