Penbrook Management LLC Trims Stake in Fidelity National Financial, Inc. $FNF

Penbrook Management LLC lessened its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 54.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,168 shares of the financial services provider’s stock after selling 11,153 shares during the period. Penbrook Management LLC’s holdings in Fidelity National Financial were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FNF. Assenagon Asset Management S.A. purchased a new position in Fidelity National Financial during the fourth quarter worth about $3,585,000. Citigroup Inc. raised its stake in shares of Fidelity National Financial by 101.4% in the 3rd quarter. Citigroup Inc. now owns 492,496 shares of the financial services provider’s stock valued at $29,791,000 after acquiring an additional 247,974 shares during the period. Sound Income Strategies LLC raised its stake in shares of Fidelity National Financial by 342,784.1% in the 4th quarter. Sound Income Strategies LLC now owns 150,869 shares of the financial services provider’s stock valued at $7,976,000 after acquiring an additional 150,825 shares during the period. Oak Thistle LLC acquired a new position in shares of Fidelity National Financial in the 4th quarter worth approximately $1,439,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of Fidelity National Financial by 99.7% in the 3rd quarter. Ameriflex Group Inc. now owns 57,338 shares of the financial services provider’s stock worth $3,468,000 after acquiring an additional 28,626 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $46.12 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.50. Fidelity National Financial, Inc. has a 52-week low of $42.78 and a 52-week high of $61.40. The firm has a market cap of $12.41 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.67 and a beta of 0.96. The company’s 50 day moving average is $48.65 and its two-hundred day moving average is $51.00.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.16). The business had revenue of $3.23 billion during 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%.The business’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, research analysts expect that Fidelity National Financial, Inc. will post 5.29 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, June 16th. This represents a $2.08 annualized dividend and a yield of 4.5%. Fidelity National Financial’s dividend payout ratio is 75.91%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FNF shares. Stephens dropped 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 report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Keefe, Bruyette & Woods dropped their price objective on Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Research downgraded Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Finally, Barclays decreased their target price on 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. Two research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.50.

Fidelity National Financial 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.