Walleye Capital LLC Grows Stake in Fidelity National Financial, Inc. $FNF

Key Points

• Walleye Capital LLC significantly increased its stake in Fidelity National Financial by 647.0%, acquiring an additional 50,463 shares during the first quarter, bringing its total holdings to 58,263 shares valued at approximately $3.79 million.
• Many other institutional investors also boosted their positions in Fidelity National Financial, with notable increases from Jump Financial LLC (994.2%) and AlphaQuest LLC (303.9%) during the same period.
• Fidelity National Financial announced a quarterly dividend of $0.50 per share, yielding 3.3%, set to be paid on September 30th, with a declaration based on a payout ratio of 50.76%.

Walleye Capital LLC raised its holdings in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 647.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,263 shares of the financial services provider's stock after buying an additional 50,463 shares during the period. Walleye Capital LLC's holdings in Fidelity National Financial were worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital Analysts LLC bought a new position in shares of Fidelity National Financial in the fourth quarter valued at $29,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of 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 buying an additional 208 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Fidelity National Financial in the first quarter valued at $32,000. Synergy Investment Management LLC bought a new position in shares of Fidelity National Financial in the first quarter valued at $36,000. Finally, Olde Wealth Management LLC bought a new position in shares of Fidelity National Financial in the first quarter valued at $40,000. 81.17% of the stock is owned by institutional investors.

Fidelity National Financial Stock Up 0.5%

Shares of FNF traded up $0.32 during trading hours on Friday, reaching $59.94. 984,600 shares of the stock traded hands, compared to its average volume of 1,182,156. 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 has a fifty day simple moving average of $57.20 and a 200 day simple moving average of $58.98. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a market cap of $16.29 billion, a price-to-earnings ratio of 15.21 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 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 firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, September 16th. Fidelity National Financial's payout ratio is presently 50.76%.

Analyst Upgrades and Downgrades

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

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.