Commonwealth Equity Services LLC Cuts Holdings in Fidelity National Financial, Inc. (NYSE:FNF)

Posted by Defense World Staff on Mar 12th, 2023

Commonwealth Equity Services LLC reduced its position in Fidelity National Financial, Inc. (NYSE:FNF – Get Rating) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,395 shares of the financial services provider’s stock after selling 60,295 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fidelity National Financial were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Salem Investment Counselors Inc. acquired a new stake in Fidelity National Financial in the 2nd quarter valued at $26,000. Paragon Wealth Strategies LLC acquired a new stake in Fidelity National Financial in the 3rd quarter valued at $29,000. Ten Capital Wealth Advisors LLC acquired a new stake in Fidelity National Financial in the 3rd quarter valued at $31,000. Trust Co. of Vermont acquired a new stake in Fidelity National Financial in the 3rd quarter valued at $41,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in Fidelity National Financial in the 1st quarter valued at $54,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Stock Performance

Shares of FNF stock opened at $35.29 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.20 and a current ratio of 0.20. Fidelity National Financial, Inc. has a one year low of $34.51 and a one year high of $50.50. The company’s 50-day simple moving average is $41.10 and its 200-day simple moving average is $39.54. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 8.67 and a beta of 1.36.

Fidelity National Financial (NYSE:FNF – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The financial services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.22). Fidelity National Financial had a return on equity of 22.52% and a net margin of 9.83%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the business posted $2.16 EPS. The business’s revenue for the quarter was down 46.8% on a year-over-year basis. Equities analysts anticipate that Fidelity National Financial, Inc. will post 4.61 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, March 16th. This represents a $1.80 annualized dividend and a dividend yield of 5.10%. Fidelity National Financial’s payout ratio is 44.23%.

Analyst Ratings Changes

FNF has been the subject of several recent research reports. Barclays lowered their price target on Fidelity National Financial from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, February 24th. Keefe, Bruyette & Woods lowered their target price on Fidelity National Financial from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, February 28th. Truist Financial lowered their target price on Fidelity National Financial from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, November 29th. Finally, Credit Suisse Group restated an “outperform” rating and set a $47.00 target price on shares of Fidelity National Financial in a research note on Thursday, March 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

About Fidelity National Financial

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Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to the real estate and mortgage industries. Its services include title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products and technology and transaction services to the real estate and mortgage industries.