Vident Advisory LLC Takes $804,000 Position in Fidelity National Financial, Inc. $FNF

Key Points

• Vident Advisory LLC has acquired a new position in Fidelity National Financial, purchasing 12,354 shares valued at approximately $804,000 in the first quarter.
• Despite a recent decrease in price objective from Barclays, Fidelity National Financial maintains an average rating of Moderate Buy among analysts, with a price target of $71.20.
• The company has announced a quarterly dividend of $0.50 per share, representing an annualized yield of 3.3%, with the payout scheduled for September 30th.

Vident Advisory LLC purchased a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,354 shares of the financial services provider's stock, valued at approximately $804,000.

Several other hedge funds have also modified their holdings of the stock. Pallas Capital Advisors LLC raised its position in Fidelity National Financial by 109.7% in the 1st quarter. Pallas Capital Advisors LLC now owns 12,241 shares of the financial services provider's stock valued at $797,000 after purchasing an additional 6,405 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Fidelity National Financial by 5.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 23,189 shares of the financial services provider's stock valued at $1,509,000 after acquiring an additional 1,267 shares during the last quarter. Private Trust Co. NA raised its holdings in Fidelity National Financial by 38.7% during the first quarter. Private Trust Co. NA now owns 738 shares of the financial services provider's stock worth $48,000 after purchasing an additional 206 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Fidelity National Financial by 4.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 85,118 shares of the financial services provider's stock worth $5,540,000 after acquiring an additional 3,510 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Fidelity National Financial by 3.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 97,207 shares of the financial services provider's stock worth $6,326,000 after acquiring an additional 2,807 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

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 equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.20.

Fidelity National Financial Stock Performance

Shares of FNF traded down $0.84 during mid-day trading on Wednesday, hitting $59.13. 138,175 shares of the company's stock were exchanged, compared to its average volume of 1,544,623. 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, Inc. has a fifty-two week low of $50.61 and a fifty-two week high of $66.72. The business's 50 day moving average is $57.72 and its two-hundred day moving average is $59.08. The firm has a market capitalization of $16.07 billion, a P/E ratio of 15.03 and a beta of 1.05.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.40 by ($0.24). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.64 billion. Fidelity National Financial had a return on equity of 14.30% and a net margin of 7.93%.The firm's revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. On average, equities analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given 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 3.4%. 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.