Wealthfront Advisers LLC Reduces Holdings in Fidelity National Financial, Inc. $FNF

Wealthfront Advisers LLC lessened its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 17.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 50,590 shares of the financial services provider’s stock after selling 10,493 shares during the period. Wealthfront Advisers LLC’s holdings in Fidelity National Financial were worth $2,346,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of Fidelity National Financial by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 2,529,383 shares of the financial services provider’s stock worth $117,313,000 after acquiring an additional 13,147 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Fidelity National Financial by 13.7% during the first quarter. Illinois Municipal Retirement Fund now owns 72,139 shares of the financial services provider’s stock valued at $3,346,000 after acquiring an additional 8,670 shares during the last quarter. Calamos Wealth Management LLC acquired a new stake in shares of Fidelity National Financial during the first quarter valued at $300,000. Calamos Advisors LLC acquired a new position in Fidelity National Financial in the 1st quarter valued at about $300,000. Finally, Bleakley Financial Group LLC raised its stake in Fidelity National Financial by 1.9% in the 1st quarter. Bleakley Financial Group LLC now owns 130,264 shares of the financial services provider’s stock valued at $6,042,000 after purchasing an additional 2,480 shares during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FNF. Zacks Research cut shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods cut their price objective on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Barclays upped their price objective on shares of Fidelity National Financial from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Stephens lowered their target price on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Finally, National Bank Financial set a $51.00 price target on Fidelity National Financial in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.00.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $50.84 on Tuesday. Fidelity National Financial, Inc. has a 1 year low of $42.78 and a 1 year high of $61.40. The firm has a 50 day moving average price of $48.15 and a 200 day moving average price of $50.17. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. Sell-side analysts predict that Fidelity National Financial, Inc. will post 5.19 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Fidelity National Financial’s dividend payout ratio is presently 75.91%.

Insider Buying and Selling at Fidelity National Financial

In related news, EVP Peter T. Sadowski sold 69,196 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the transaction, the executive vice president directly owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.70% of the company’s stock.

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.