Strs Ohio Invests $1.81 Million in Fidelity National Financial, Inc. $FNF

Key Points

• Strs Ohio has acquired 27,781 shares of Fidelity National Financial, incurring a cost of approximately $1.8 million, as noted in their recent 13F filing.
• The company reported earnings per share of $1.16 for the last quarter, falling short of the consensus estimate of $1.40, while their revenue remained stable at $3.64 billion.
• Fidelity National Financial has announced a $0.50 quarterly dividend, reflecting a yield of 3.4% and a payout ratio of 50.76%.

Strs Ohio bought a new position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,781 shares of the financial services provider's stock, valued at approximately $1,808,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Fidelity National Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider's stock worth $1,768,543,000 after acquiring an additional 120,595 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Fidelity National Financial by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock valued at $585,785,000 after purchasing an additional 588,113 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Fidelity National Financial by 1.5% during the first quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock valued at $534,585,000 after purchasing an additional 121,096 shares in the last quarter. Millennium Management LLC raised its stake in Fidelity National Financial by 93.3% during the first quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider's stock valued at $244,967,000 after purchasing an additional 1,817,124 shares in the last quarter. Finally, Nuveen LLC bought a new position in Fidelity National Financial during the first quarter valued at $178,433,000. Institutional investors own 81.17% of the company's stock.

Analyst Upgrades and Downgrades

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 note on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $71.20.

Fidelity National Financial Price Performance

FNF stock traded down $0.55 during midday trading on Friday, reaching $58.62. 3,547,160 shares of the stock were exchanged, compared to its average volume of 1,062,737. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.24 and a quick ratio of 0.24. The company has a fifty day moving average price of $58.33 and a 200 day moving average price of $58.94. The stock has a market capitalization of $15.93 billion, a PE ratio of 14.88 and a beta of 1.05.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued 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 company had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same period last year, the company earned $1.24 earnings per share. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 16th. Fidelity National Financial's dividend payout ratio is 50.76%.

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.