Royal Bank of Canada Acquires 5,205 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Royal Bank of Canada has increased its holdings in Fidelity National Financial by 0.3%, now owning approximately $130.62 million worth of shares.
• Barclays has reduced its price target for Fidelity National Financial from $67.00 to $65.00 while maintaining an "equal weight" rating on the stock.
• Fidelity National Financial has announced a quarterly dividend of $0.50 per share, with an ex-dividend date set for September 16th, representing a 3.4% annual yield.

Royal Bank of Canada grew its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,007,085 shares of the financial services provider's stock after purchasing an additional 5,205 shares during the quarter. Royal Bank of Canada owned approximately 0.73% of Fidelity National Financial worth $130,621,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Graham Capital Management L.P. bought a new stake in Fidelity National Financial in the first quarter valued at $3,152,000. Quarry LP boosted its holdings in Fidelity National Financial by 103.2% in the first quarter. Quarry LP now owns 2,760 shares of the financial services provider's stock valued at $180,000 after acquiring an additional 1,402 shares in the last quarter. Mubadala Investment Co PJSC bought a new stake in Fidelity National Financial in the first quarter valued at $2,733,000. Baird Financial Group Inc. boosted its holdings in Fidelity National Financial by 1.0% in the first quarter. Baird Financial Group Inc. now owns 84,012 shares of the financial services provider's stock valued at $5,468,000 after acquiring an additional 797 shares in the last quarter. Finally, Palogic Value Management L.P. boosted its holdings in Fidelity National Financial by 9.4% in the first quarter. Palogic Value Management L.P. now owns 22,796 shares of the financial services provider's stock valued at $1,484,000 after acquiring an additional 1,960 shares in the last quarter. Institutional investors own 81.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays lowered their price objective on 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Fidelity National Financial currently has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Stock Up 0.2%

Shares of FNF traded up $0.10 during trading hours on Monday, hitting $60.67. The company had a trading volume of 331,696 shares, compared to its average volume of 1,548,632. The firm has a fifty day moving average price of $57.58 and a 200-day moving average price of $59.07. 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 stock has a market capitalization of $16.49 billion, a price-to-earnings ratio of 15.40 and a beta of 1.05. Fidelity National Financial, Inc. has a 52-week low of $50.61 and a 52-week high of $66.72.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. Fidelity National Financial's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

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

Fidelity National Financial Company 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.