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

Legal & General Group Plc lessened its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 27.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,137,018 shares of the financial services provider’s stock after selling 428,439 shares during the quarter. Legal & General Group Plc’s holdings in Fidelity National Financial were worth $62,070,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Windacre Partnership LLC raised its stake in shares of Fidelity National Financial by 31.0% in the 3rd quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider’s stock valued at $1,143,569,000 after acquiring an additional 4,477,900 shares during the period. State Street Corp grew its holdings in Fidelity National Financial by 0.3% during the 3rd quarter. State Street Corp now owns 9,469,029 shares of the financial services provider’s stock valued at $572,782,000 after purchasing an additional 31,318 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in Fidelity National Financial by 0.9% during the 4th quarter. First Eagle Investment Management LLC now owns 6,102,523 shares of the financial services provider’s stock valued at $333,137,000 after purchasing an additional 54,756 shares in the last quarter. AQR Capital Management LLC grew its holdings in Fidelity National Financial by 75.4% during the 3rd quarter. AQR Capital Management LLC now owns 5,057,355 shares of the financial services provider’s stock valued at $304,503,000 after purchasing an additional 2,174,220 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Fidelity National Financial by 167.8% during the 3rd quarter. Alliancebernstein L.P. now owns 4,741,145 shares of the financial services provider’s stock valued at $286,792,000 after purchasing an additional 2,970,460 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FNF. Zacks Research lowered shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. National Bank Financial set a $50.00 price target on shares of Fidelity National Financial in a report on Monday, May 11th. Keefe, Bruyette & Woods lowered their price target on shares of Fidelity National Financial from $71.00 to $67.00 and set an “outperform” rating for the company in a report on Friday, April 10th. Stephens lowered their price target on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fidelity National Financial currently has a consensus rating of “Hold” and a consensus price target of $56.25.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $47.33 on Friday. The firm 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. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. Fidelity National Financial, Inc. has a 1-year low of $42.78 and a 1-year high of $61.40. The firm has a fifty day moving average of $48.25 and a two-hundred day moving average of $52.56.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.16). The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.61 billion. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.Fidelity National Financial’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, research analysts anticipate that Fidelity National Financial, Inc. will post 5.3 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a 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%.

About Fidelity National Financial

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.