Fidelity National Financial, Inc. $FNF Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 42.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,087 shares of the financial services provider’s stock after selling 5,154 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Fidelity National Financial were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Fidelity National Financial by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,174,914 shares of the financial services provider’s stock valued at $1,768,543,000 after purchasing an additional 120,595 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fidelity National Financial by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,001,001 shares of the financial services provider’s stock worth $585,785,000 after purchasing an additional 588,113 shares during the period. Victory Capital Management Inc. increased its holdings in Fidelity National Financial by 1.5% during the 1st quarter. Victory Capital Management Inc. now owns 8,214,280 shares of the financial services provider’s stock worth $534,585,000 after purchasing an additional 121,096 shares during the period. Millennium Management LLC increased its holdings in Fidelity National Financial by 93.3% during the 1st quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider’s stock worth $244,967,000 after purchasing an additional 1,817,124 shares during the period. Finally, Nuveen LLC purchased a new stake in Fidelity National Financial during the 1st quarter worth about $178,433,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Stock Performance

Shares of FNF stock opened at $58.62 on Friday. The business has a 50 day simple moving average of $58.33 and a 200 day simple moving average of $58.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.24 and a quick ratio of 0.24. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 14.88 and a beta of 1.05. Fidelity National Financial, Inc. has a 12-month low of $50.61 and a 12-month high of $66.72.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.24). The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.64 billion. Fidelity National Financial had a net margin of 7.93% and a return on equity of 14.30%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. On average, equities research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Fidelity National Financial’s dividend payout ratio is presently 50.76%.

Analyst Upgrades and Downgrades

Separately, Barclays cut their price target on Fidelity National Financial from $67.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.