Rockefeller Capital Management L.P. Increases Stake in Fidelity National Financial, Inc. $FNF

Key Points

• Rockefeller Capital Management significantly increased its stake in Fidelity National Financial, boosting its position by 3,530.7% in the fourth quarter to 221,181 shares worth about $12.1 million.
• FNF’s latest quarterly results missed expectations, posting EPS of $0.93 versus the $1.09 consensus and revenue of $3.23 billion versus $3.61 billion estimates, though revenue still rose 18.2% year over year.
• The company continues to reward shareholders with a quarterly dividend of $0.52 per share, equal to an annualized yield of 4.5%, even as analysts remain cautious with a consensus rating of “Hold.”

Rockefeller Capital Management L.P. grew its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 3,530.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 221,181 shares of the financial services provider's stock after acquiring an additional 215,089 shares during the period. Rockefeller Capital Management L.P. owned about 0.08% of Fidelity National Financial worth $12,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FNF. Crossmark Global Holdings Inc. boosted its holdings in Fidelity National Financial by 1.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,542 shares of the financial services provider's stock valued at $958,000 after purchasing an additional 192 shares in the last quarter. Kera Capital Partners Inc. boosted its stake in shares of Fidelity National Financial by 6.1% in the fourth quarter. Kera Capital Partners Inc. now owns 3,946 shares of the financial services provider's stock valued at $215,000 after buying an additional 228 shares in the last quarter. Fiduciary Trust Co grew its holdings in Fidelity National Financial by 2.0% during the third quarter. Fiduciary Trust Co now owns 11,813 shares of the financial services provider's stock worth $715,000 after acquiring an additional 228 shares during the period. Brooklyn Investment Group raised its position in Fidelity National Financial by 2.1% in the fourth quarter. Brooklyn Investment Group now owns 11,272 shares of the financial services provider's stock worth $621,000 after acquiring an additional 231 shares in the last quarter. Finally, Centennial Wealth Advisory LLC lifted its holdings in Fidelity National Financial by 5.3% in the fourth quarter. Centennial Wealth Advisory LLC now owns 4,822 shares of the financial services provider's stock valued at $263,000 after acquiring an additional 243 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FNF. Stephens lowered their price target on shares of 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. Zacks Research lowered shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fidelity National Financial in a report on Thursday, June 11th. National Bank Financial set a $50.00 price target on Fidelity National Financial in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on Fidelity National Financial from $71.00 to $67.00 and set an "outperform" rating for the company in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $56.25.

Fidelity National Financial Stock Performance

Shares of FNF opened at $46.39 on Thursday. Fidelity National Financial, Inc. has a 12-month low of $42.78 and a 12-month high of $61.40. The stock has a market cap of $12.49 billion, a P/E ratio of 16.95, a PEG ratio of 0.70 and a beta of 0.96. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $48.68 and a two-hundred day moving average of $51.08.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released 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). Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The firm's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, research analysts predict that Fidelity National Financial, Inc. will post 5.29 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, June 16th. Fidelity National Financial's dividend payout ratio is 75.91%.

Fidelity National Financial 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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