Raymond James Financial Inc. Buys 6,110 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Raymond James Financial Inc. increased its stake in Fidelity National Financial, owning approximately 0.22% of the company, with a total value of $38.77 million after purchasing an additional 6,110 shares.
• Fidelity National Financial's stock recently experienced a 2.4% uptick, with a current market cap of $16.52 billion and a PE ratio of 15.43.
• The company declared a quarterly dividend of $0.50 per share, translating to an annualized yield of 3.3%, with a dividend payout ratio of 50.76%.

Raymond James Financial Inc. lifted its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 595,755 shares of the financial services provider's stock after purchasing an additional 6,110 shares during the period. Raymond James Financial Inc. owned 0.22% of Fidelity National Financial worth $38,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Pallas Capital Advisors LLC lifted its stake in shares of Fidelity National Financial by 109.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 12,241 shares of the financial services provider's stock valued at $797,000 after purchasing an additional 6,405 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Fidelity National Financial by 5.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 23,189 shares of the financial services provider's stock valued at $1,509,000 after purchasing an additional 1,267 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Fidelity National Financial by 38.7% in the 1st quarter. Private Trust Co. NA now owns 738 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 206 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Fidelity National Financial by 4.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 85,118 shares of the financial services provider's stock valued at $5,540,000 after purchasing an additional 3,510 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Fidelity National Financial by 3.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 97,207 shares of the financial services provider's stock valued at $6,326,000 after purchasing an additional 2,807 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company's stock.

Fidelity National Financial Stock Performance

Shares of NYSE:FNF traded down $0.37 on Monday, hitting $60.45. 547,066 shares of the company were exchanged, compared to its average volume of 1,254,577. The company's 50 day moving average price is $56.72 and its two-hundred day moving average price is $58.93. Fidelity National Financial, Inc. has a one year low of $50.61 and a one year high of $66.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $16.43 billion, a price-to-earnings ratio of 15.34 and a beta of 1.02.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.64 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 EPS. Research analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. Fidelity National Financial's payout ratio is presently 50.76%.

Wall Street Analyst Weigh In

Separately, Barclays cut their target price on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company 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.com, Fidelity National Financial currently has a consensus rating of "Moderate Buy" and an average 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.