State of Michigan Retirement System Increases Stock Holdings in Fidelity National Financial, Inc. (NYSE:FNF)

State of Michigan Retirement System increased its position in Fidelity National Financial, Inc. (NYSE:FNF) by 0.9% in the first quarter, Holdings Channel.com reports. The fund owned 65,300 shares of the financial services provider’s stock after acquiring an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in Fidelity National Financial were worth $4,250,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Fidelity National Financial in the 4th quarter valued at $158,386,000. Invesco Ltd. raised its position in shares of Fidelity National Financial by 53.3% in the fourth quarter. Invesco Ltd. now owns 2,199,684 shares of the financial services provider’s stock worth $123,490,000 after buying an additional 764,958 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Fidelity National Financial by 99.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,437,460 shares of the financial services provider’s stock valued at $80,689,000 after buying an additional 715,070 shares during the period. AQR Capital Management LLC grew its position in Fidelity National Financial by 135.8% during the fourth quarter. AQR Capital Management LLC now owns 1,167,485 shares of the financial services provider’s stock worth $65,543,000 after buying an additional 672,323 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Fidelity National Financial by 8,302.5% in the 1st quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider’s stock worth $40,783,000 after acquiring an additional 619,197 shares during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $69.00 price target for the company in a research report on Tuesday, April 8th. Barclays lowered their target price on shares of Fidelity National Financial from $67.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.20.

Fidelity National Financial Trading Up 3.1%

NYSE FNF opened at $52.82 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. The stock’s 50-day simple moving average is $56.10 and its two-hundred day simple moving average is $58.85. Fidelity National Financial, Inc. has a twelve month low of $50.61 and a twelve month high of $66.72. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 13.07 and a beta of 1.02.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.35). The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Fidelity National Financial had a net margin of 8.43% and a return on equity of 14.88%. The business’s quarterly revenue was down 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Research analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Monday, June 16th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 49.50%.

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.