Fidelity National Financial, Inc. (NYSE:FNF) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 15.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 529,961 shares of the financial services provider’s stock after selling 95,039 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Fidelity National Financial were worth $34,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Analysts LLC acquired a new stake in Fidelity National Financial in the fourth quarter valued at approximately $29,000. Parkside Financial Bank & Trust grew its holdings in Fidelity National Financial by 50.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 622 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 209 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Fidelity National Financial in the 4th quarter valued at approximately $37,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Fidelity National Financial in the 4th quarter valued at approximately $44,000. Finally, Colonial Trust Co SC raised its holdings in shares of Fidelity National Financial by 130.1% in the 4th quarter. Colonial Trust Co SC now owns 796 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 450 shares in the last quarter. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Price Performance

Shares of NYSE:FNF opened at $54.71 on Friday. Fidelity National Financial, Inc. has a 12 month low of $47.79 and a 12 month high of $66.72. The firm has a market capitalization of $15.03 billion, a P/E ratio of 11.77 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.24 and a quick ratio of 0.24. The company’s fifty day moving average price is $59.26 and its 200 day moving average price is $59.70.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.35). Fidelity National Financial had a return on equity of 15.36% and a net margin of 9.28%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the business posted $0.91 EPS. The business’s revenue for the quarter was down 17.3% compared to the same quarter last year. As a group, sell-side analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.66%. Fidelity National Financial’s dividend payout ratio is presently 49.50%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of Fidelity National Financial from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Stephens upped their price objective on Fidelity National Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $69.00 price objective on the stock in a report on Tuesday, April 8th. Finally, Wall Street Zen cut Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Fidelity National Financial presently has a consensus rating of “Moderate Buy” and an average price target of $71.60.

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.