Virtu Financial LLC Invests $929,000 in Fidelity National Financial, Inc. (NYSE:FNF)

Key Points

• Virtu Financial LLC has acquired a new stake in Fidelity National Financial, Inc., purchasing 14,272 shares valued at approximately $929,000 in the first quarter.
• According to Barclays, the target price for Fidelity National Financial was lowered from $67.00 to $65.00, maintaining an "equal weight" rating amid mixed analyst evaluations.
• The company announced a quarterly dividend of $0.50 per share, representing a 3.4% annual dividend yield, with a payout ratio of 50.76%.

Virtu Financial LLC acquired a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,272 shares of the financial services provider's stock, valued at approximately $929,000.

Other hedge funds have also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Fidelity National Financial by 80.0% during 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 position in shares of Fidelity National Financial during the first quarter valued at approximately $32,000. Capital Analysts LLC purchased a new position in shares of Fidelity National Financial during the fourth quarter valued at approximately $29,000. Synergy Investment Management LLC bought a new stake in Fidelity National Financial during the first quarter valued at approximately $36,000. Finally, Olde Wealth Management LLC purchased a new stake in Fidelity National Financial during the first quarter valued at approximately $40,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays reduced their target price on shares of Fidelity National Financial from $67.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Stock Performance

FNF stock traded down $0.79 during midday trading on Friday, reaching $59.67. 1,237,705 shares of the company's stock traded hands, compared to its average volume of 1,749,795. Fidelity National Financial, Inc. has a 52-week low of $50.61 and a 52-week high of $66.72. The stock has a market cap of $16.21 billion, a P/E ratio of 15.14 and a beta of 1.02. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average is $56.19 and its 200 day moving average is $58.85.

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

Fidelity National Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend yield of 3.4%. The ex-dividend date is Tuesday, September 16th. 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.