Ascent Group LLC Lowers Position in Fidelity National Financial, Inc. $FNF

Ascent Group LLC lessened its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 0.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,525 shares of the financial services provider’s stock after selling 265 shares during the quarter. Ascent Group LLC’s holdings in Fidelity National Financial were worth $1,767,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its holdings 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 worth $30,000 after buying an additional 208 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Fidelity National Financial in the first quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Fidelity National Financial in the first quarter worth $32,000. Synergy Investment Management LLC purchased a new position in shares of Fidelity National Financial in the first quarter worth $36,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Fidelity National Financial in the first quarter worth $40,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Trading Up 0.6%

Shares of FNF opened at $59.96 on Friday. The company’s fifty day moving average is $59.32 and its 200 day moving average is $58.66. Fidelity National Financial, Inc. has a fifty-two week low of $50.61 and a fifty-two week high of $66.72. The stock has a market capitalization of $16.29 billion, a PE ratio of 15.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.24.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. Fidelity National Financial’s payout ratio is 50.76%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FNF. Weiss Ratings reissued a “buy (b)” rating on shares of Fidelity National Financial in a report on Saturday, September 27th. Barclays reduced their price target on shares of Fidelity National Financial from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.20.

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.