August 20, 2023
Russell Investments Group Ltd. has increased its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 8.7% during the first quarter of this year, according to the company’s latest filing with the Securities and Exchange Commission (SEC). The financial services provider now owns 208,842 shares of Fidelity National Financial, representing an additional 16,657 shares acquired during the quarter. As of the most recent filing with the SEC, Russell Investments Group Ltd. holds a 0.08% ownership stake in Fidelity National Financial worth $7,293,000.
Fidelity National Financial recently released its quarterly earnings data on August 8th. For the quarter, the company reported earnings per share (EPS) of $1.01, which fell short of the consensus estimate by ($0.03). Despite this slight miss in EPS expectations, Fidelity National Financial maintained a net margin of 4.57% and a return on equity of 15.89%. The company generated revenue of $3.07 billion during the quarter, surpassing analyst estimates that projected revenue to be at $2.68 billion for the same period last year.
In comparison to the previous year’s performance during the same period, where it posted earnings per share of $1.90, Fidelity National Financial experienced significant growth with its revenue increasing by 16.4% on a year-over-year basis.
Equities analysts anticipate that Fidelity National Financial will post an EPS of 3.7 for the current fiscal year.
For more detailed information and insights on Fidelity National Financial (NYSE:FNF), interested parties can access our latest stock report on our website.
Note: The information provided in this article is based on publicly available data as of August 20th and should not be considered as financial advice or an endorsement for any investment decisions made.
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Hedge Funds and Positive Ratings Boost Fidelity National Financial’s Outlook
August 20, 2023 – In recent months, several hedge funds have made notable changes to their positions in Fidelity National Financial. Salem Investment Counselors Inc., for instance, purchased a new stake in the financial services provider during the second quarter, valued at approximately $26,000. This move comes as other hedge funds also saw potential in the company.
Hexagon Capital Partners LLC increased its stake in Fidelity National Financial by 88.2% during the first quarter. The firm now owns 715 shares of the company’s stock, which amounts to approximately $25,000 after buying an additional 335 shares last quarter. GPS Wealth Strategies Group LLC also joined in on this trend and purchased a new stake in Fidelity National Financial worth around $32,000 during the first quarter.
Furthermore, Brown Brothers Harriman & Co. followed suit by adding a new stake in shares of Fidelity National Financial during the same period. Their investment was valued at around $54,000. Benjamin F. Edwards & Company Inc., on the other hand, significantly boosted its stake by 106.7% during the fourth quarter, now owning 1,304 shares valued at $49,000 after purchasing an additional 673 shares.
It is worth noting that these institutional investors currently own approximately 78.27% of Fidelity National Financial’s stock.
Shares of NYSE:FNF opened at $40.60 on Friday with a market capitalization of $11.05 billion and a price-to-earnings ratio of 21.48. The stock also holds a beta value of 1.34 which indicates higher volatility compared to broader market indices.
Over the past year, Fidelity National Financial has seen its share price range from a low of $31.84 to a high of $45.51 with its current price hovering nears its lowest point over this period.On average over that timeframe we have seen a 50-day moving average of $37.55 and a 200-day moving average of $36.90.
In terms of financial stability, Fidelity National Financial has a quick ratio and current ratio both sitting at 0.19 which implies the company might have some constraints when it comes to its liquidity as its current assets cannot sufficiently cover its liabilities. Additionally, the company’s debt-to-equity ratio stands at 0.55 which indicates a moderate amount of debt relative to equity.
Recent news from Fidelity National Financial includes the announcement of a quarterly dividend, set to be paid on Friday, September 29th. Investors who are on record as of Friday, September 15th will receive a dividend of $0.45 per share. The ex-dividend date for this payout is Thursday, September 14th. At an annualized basis, this represents a total dividend payout of $1.80 per share with a yield of approximately 4.43%.
Analysts from various brokerages have also commented on FNF recently. One noteworthy rating comes from TheStreet, which upgraded Fidelity National Financial from a “c+” rating to a “b” rating in their report published on August 9th. Other analysts such as Stephens have reaffirmed their positive outlook by assigning an “overweight” rating and setting a price objective of $48.00 for shares of Fidelity National Financial.
Furthermore, BTIG Research has increased their target price for FNF from $47.00 to $48.00 and given the stock a “buy” rating in their research report released on August 9th.In line with this optimism are analysts at Truist Financial who raised their target price to $52.00 and reiterated their “buy” rating for the stock.
However, Barclays took a more conservative stance by decreasing their price objective for Fidelity National Financial from $46.00 to $43.00 in their research note on May 5th.
According to data from Bloomberg, Fidelity National Financial holds a consensus rating of “Moderate Buy” among analysts with an average price target of $47.17.
As the financial services provider continues to attract attention from hedge funds and receive positive ratings from notable institutions, the future outlook for Fidelity National Financial appears promising. Investors will be keeping a close eye on the company’s performance in the coming months to assess its full potential.
