Fidelity National Financial, Inc. $FNF Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Fidelity National Financial by 0.2%, holding 2,510,199 shares valued at approximately $163.36 million after selling 5,087 shares.
• Fidelity National Financial reported a net margin of 7.93% and earnings per share of $1.16, missing the consensus estimate of $1.40.
• The company announced a quarterly dividend of $0.50 per share, which represents an annualized yield of 3.3% and has a payout ratio of 50.76%.

Northern Trust Corp trimmed its stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,510,199 shares of the financial services provider's stock after selling 5,087 shares during the period. Northern Trust Corp owned approximately 0.91% of Fidelity National Financial worth $163,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNF. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 120,595 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fidelity National Financial by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock worth $585,785,000 after buying an additional 588,113 shares during the last quarter. Victory Capital Management Inc. increased its position in Fidelity National Financial by 1.5% during the first quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock worth $534,585,000 after buying an additional 121,096 shares during the period. Nuveen LLC purchased a new stake in Fidelity National Financial in the first quarter valued at approximately $178,433,000. Finally, Millennium Management LLC lifted its stake in Fidelity National Financial by 41.2% in the fourth quarter. Millennium Management LLC now owns 1,946,962 shares of the financial services provider's stock valued at $109,302,000 after buying an additional 568,013 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Stock Performance

Fidelity National Financial stock traded down $1.12 during mid-day trading on Thursday, reaching $59.41. 126,302 shares of the company were exchanged, compared to its average volume of 1,561,254. The firm's 50-day simple moving average is $56.98 and its two-hundred day simple moving average is $58.95. Fidelity National Financial, Inc. has a twelve month low of $50.61 and a twelve month high of $66.72. The firm has a market cap of $16.14 billion, a PE ratio of 15.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released 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 company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter last year, the company earned $1.24 EPS. Fidelity National Financial's revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is 50.76%.

Wall Street Analyst Weigh In

Separately, Barclays lowered their target price 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 equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.