HighTower Advisors LLC Reduces Stock Position in Fidelity National Financial, Inc. $FNF

HighTower Advisors LLC lessened its position in Fidelity National Financial, Inc. (NYSE:FNF) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 452,028 shares of the financial services provider’s stock after selling 16,474 shares during the period. HighTower Advisors LLC owned 0.16% of Fidelity National Financial worth $24,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp boosted its holdings in shares of Fidelity National Financial by 997.7% during the third quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 429 shares during the period. Canton Hathaway LLC purchased a new position in Fidelity National Financial during the 4th quarter valued at about $26,000. Headlands Technologies LLC bought a new position in Fidelity National Financial during the 2nd quarter valued at approximately $32,000. Root Financial Partners LLC bought a new position in Fidelity National Financial during the 3rd quarter valued at approximately $39,000. Finally, Torren Management LLC purchased a new stake in Fidelity National Financial in the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FNF. Barclays cut their price objective on Fidelity National Financial from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. National Bank Financial set a $50.00 price target on Fidelity National Financial in a research note on Monday, May 11th. Keefe, Bruyette & Woods cut their price target on shares of Fidelity National Financial from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Zacks Research downgraded shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Finally, Stephens decreased their price objective 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. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $56.25.

Fidelity National Financial Trading Down 1.4%

FNF opened at $48.65 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 stock has a market cap of $13.09 billion, a PE ratio of 17.78, a PEG ratio of 0.70 and a beta of 1.00. The business has a 50 day moving average of $48.21 and a 200-day moving average of $52.83.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.16). The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.Fidelity National Financial’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 earnings per share. Equities research analysts predict that Fidelity National Financial, Inc. will post 5.4 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Fidelity National Financial’s dividend payout ratio is currently 75.91%.

About Fidelity National Financial

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.