QRG Capital Management Inc. Lowers Position in Fidelity National Financial, Inc. $FNF

Key Points

• QRG Capital Management Inc. has reduced its stake in Fidelity National Financial by 8.5%, bringing its holdings to 51,162 shares valued at approximately $2.87 million.
• Despite the reduction, Fidelity National Financial maintains strong institutional support with 81.17% of its shares owned by hedge funds and other institutional investors.
• Fidelity National Financial reported $1.16 earnings per share for the last quarter, missing estimates, but experienced a 15.1% increase in revenue year-over-year, totaling $3.64 billion.

QRG Capital Management Inc. decreased its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,162 shares of the financial services provider's stock after selling 4,747 shares during the period. QRG Capital Management Inc.'s holdings in Fidelity National Financial were worth $2,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FNF. Gilbert & Cook Inc. boosted its holdings in Fidelity National Financial by 3.0% during the 1st quarter. Gilbert & Cook Inc. now owns 5,814 shares of the financial services provider's stock worth $378,000 after acquiring an additional 168 shares during the last quarter. Journey Strategic Wealth LLC boosted its holdings in Fidelity National Financial by 1.2% during the first quarter. Journey Strategic Wealth LLC now owns 14,482 shares of the financial services provider's stock worth $943,000 after purchasing an additional 175 shares during the last quarter. Commerce Bank grew its position in Fidelity National Financial by 3.1% in the 1st quarter. Commerce Bank now owns 5,977 shares of the financial services provider's stock worth $389,000 after purchasing an additional 177 shares in the last quarter. Peddock Capital Advisors LLC grew its position in Fidelity National Financial by 3.2% in the 1st quarter. Peddock Capital Advisors LLC now owns 5,663 shares of the financial services provider's stock worth $369,000 after purchasing an additional 178 shares in the last quarter. Finally, My Legacy Advisors LLC increased its stake in Fidelity National Financial by 2.3% in the 1st quarter. My Legacy Advisors LLC now owns 8,716 shares of the financial services provider's stock valued at $567,000 after buying an additional 197 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FNF shares. Barclays restated a "cautious" rating on shares of Fidelity National Financial in a research note on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Fidelity National Financial in a research note on Saturday, September 27th. Finally, National Bankshares set a $64.00 target price on Fidelity National Financial in a research note on Monday. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $69.83.

Fidelity National Financial Stock Performance

NYSE:FNF opened at $58.10 on Tuesday. The company has a market capitalization of $15.79 billion, a P/E ratio of 14.75 and a beta of 1.05. The business has a fifty day simple moving average of $59.34 and a two-hundred day simple moving average of $58.59. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.24 and a quick ratio of 0.24. 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 posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share 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 firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the company posted $1.24 EPS. The firm's revenue was up 15.1% compared to the same quarter last year. On average, analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Fidelity National Financial's payout ratio is 50.76%.

Fidelity National Financial Profile

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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