Wedge Capital Management L L P NC Has $34.81 Million Stock Position in Fidelity National Financial, Inc. $FNF

Key Points

• Wedge Capital Management L L P NC increased its stake in Fidelity National Financial by 17.2%, holding 620,854 shares valued at approximately $34.8 million after a purchase of 90,893 shares in Q2.
• Barclays lowered its price target for Fidelity National Financial from $67.00 to $65.00, maintaining an "equal weight" rating, while the current consensus rating is "Moderate Buy" with a price target of $71.20.
• Fidelity National Financial announced a quarterly dividend of $0.50 per share, with an annualized yield of 3.4%, scheduled for payment on September 30th.

Wedge Capital Management L L P NC increased its stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 17.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 620,854 shares of the financial services provider's stock after acquiring an additional 90,893 shares during the period. Wedge Capital Management L L P NC owned approximately 0.23% of Fidelity National Financial worth $34,805,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FNF. Nuveen LLC bought a new stake in Fidelity National Financial during the first quarter worth approximately $178,433,000. Millennium Management LLC boosted its holdings 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 worth $244,967,000 after buying an additional 1,817,124 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Fidelity National Financial by 70.6% during the first quarter. AQR Capital Management LLC now owns 1,992,047 shares of the financial services provider's stock worth $129,264,000 after buying an additional 824,562 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Fidelity National Financial by 8,302.5% during the first quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider's stock worth $40,783,000 after buying an additional 619,197 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fidelity National Financial by 7.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider's stock worth $585,785,000 after buying an additional 588,113 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Fidelity National Financial presently has an average rating of "Moderate Buy" and a consensus target price of $71.20.

Fidelity National Financial Stock Up 0.5%

FNF stock traded up $0.28 during midday trading on Tuesday, reaching $59.13. The company had a trading volume of 389,701 shares, compared to its average volume of 1,540,651. Fidelity National Financial, Inc. has a 1 year low of $50.61 and a 1 year 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. The company has a market capitalization of $16.07 billion, a P/E ratio of 15.01 and a beta of 1.05. The company has a 50 day moving average of $58.45 and a two-hundred day moving average of $58.85.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. 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.