Fidelity National Financial, Inc. $FNF Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Fidelity National Financial by 12.7%, now holding 82,022 shares worth approximately $5.34 million.
• Fidelity National Financial's recent earnings report showed an EPS of $1.16, missing expectations by $0.24, with a 15.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.50 per share, with an annualized yield of 3.4%, set to be paid on September 30th.

State of New Jersey Common Pension Fund D trimmed its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,022 shares of the financial services provider's stock after selling 11,974 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Fidelity National Financial were worth $5,338,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FNF. Capital Analysts LLC purchased a new stake in Fidelity National Financial in the fourth quarter valued at $29,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Fidelity National Financial by 80.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 468 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 208 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Fidelity National Financial in the first quarter valued at $32,000. Synergy Investment Management LLC acquired a new position in shares of Fidelity National Financial in the first quarter worth about $36,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Fidelity National Financial in the first quarter worth about $40,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays decreased their price objective 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 investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Fidelity National Financial presently has a consensus rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Price Performance

Shares of FNF traded up $1.4450 during mid-day trading on Friday, hitting $60.8050. 784,025 shares of the company were exchanged, compared to its average volume of 1,254,577. Fidelity National Financial, Inc. has a 1-year low of $50.61 and a 1-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 company has a 50 day moving average of $56.61 and a 200-day moving average of $58.91. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of 15.43 and a beta of 1.02.

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 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 company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the company earned $1.24 EPS. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

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