Legal & General Group Plc Trims Position in Fidelity National Financial, Inc. $FNF

Legal & General Group Plc decreased its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 27.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,137,018 shares of the financial services provider’s stock after selling 428,439 shares during the period. Legal & General Group Plc owned 0.40% of Fidelity National Financial worth $62,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Canton Hathaway LLC purchased a new position in shares of Fidelity National Financial during the fourth quarter valued at approximately $26,000. Atlantic Union Bankshares Corp lifted its stake in shares of Fidelity National Financial by 997.7% during the third quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider’s stock valued at $29,000 after buying an additional 429 shares during the period. Headlands Technologies LLC purchased a new position in shares of Fidelity National Financial during the second quarter valued at approximately $32,000. Torren Management LLC purchased a new position in shares of Fidelity National Financial during the fourth quarter valued at approximately $57,000. Finally, V Square Quantitative Management LLC purchased a new position in Fidelity National Financial during the fourth quarter worth approximately $94,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Stock Performance

NYSE:FNF opened at $47.33 on Friday. The firm’s 50 day moving average is $48.25 and its two-hundred day moving average is $52.56. Fidelity National Financial, Inc. has a fifty-two week low of $42.78 and a fifty-two week high of $61.40. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.50. The company has a market cap of $12.74 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.69 and a beta of 1.00.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue was up 18.2% on a year-over-year basis. Analysts expect that Fidelity National Financial, Inc. will post 5.3 EPS for the current year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Fidelity National Financial’s dividend payout ratio (DPR) is currently 75.91%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FNF. Stephens cut their price target on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods cut their price target on shares of Fidelity National Financial from $71.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, April 10th. Barclays cut their price target on shares of Fidelity National Financial from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. National Bank Financial set a $50.00 price target on shares of Fidelity National Financial in a research note on Monday, May 11th. Finally, Weiss Ratings downgraded shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Fidelity National Financial presently has an average rating of “Hold” and an average price target of $56.25.

Fidelity National Financial Company Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.