USS Investment Management Ltd Sells 35,000 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• USS Investment Management Ltd has reduced its stake in Fidelity National Financial by 52.7% in the first quarter, now holding 31,407 shares valued at approximately $2,045,000.
• Fidelity National Financial reported earnings of $1.16 per share for the last quarter, missing estimates by $0.24, while year-over-year revenue increased by 15.1%.
• The company declared a quarterly dividend of $0.50 per share, with a dividend yield of 3.3%, reflecting a payout ratio of 50.76%.

USS Investment Management Ltd lowered its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 52.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,407 shares of the financial services provider's stock after selling 35,000 shares during the quarter. USS Investment Management Ltd's holdings in Fidelity National Financial were worth $2,045,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Fidelity National Financial by 0.4% during the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $585,785,000 after acquiring an additional 588,113 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Fidelity National Financial by 1.5% during the 1st quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider's stock worth $534,585,000 after acquiring an additional 121,096 shares during the last quarter. Millennium Management LLC grew its holdings in Fidelity National Financial by 93.3% during the 1st quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider's stock worth $244,967,000 after acquiring an additional 1,817,124 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Fidelity National Financial during the 1st quarter worth about $178,433,000. Institutional investors own 81.17% of the company's stock.

Fidelity National Financial Trading Down 0.2%

Fidelity National Financial stock traded down $0.12 during mid-day trading on Friday, hitting $60.56. The stock had a trading volume of 838,452 shares, compared to its average volume of 1,544,734. The stock has a 50-day simple moving average of $57.82 and a two-hundred day simple moving average of $59.09. The stock has a market capitalization of $16.45 billion, a PE ratio of 15.37 and a beta of 1.05. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $3.64 billion. During the same quarter last year, the business posted $1.24 EPS. Fidelity National Financial's quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.50 per share. 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 (DPR) is 50.76%.

Analyst Ratings Changes

Separately, Barclays decreased their price target on Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Fidelity National Financial has a consensus rating of "Moderate Buy" and a consensus target price of $71.20.

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.