Hudson Bay Capital Management LP Trims Stake in Fidelity National Financial, Inc. $FNF

Hudson Bay Capital Management LP cut its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 49.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,233 shares of the financial services provider’s stock after selling 71,019 shares during the period. Hudson Bay Capital Management LP’s holdings in Fidelity National Financial were worth $4,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Severin Investments LLC bought a new stake in shares of Fidelity National Financial during the 3rd quarter valued at $205,000. Allworth Financial LP raised its holdings in Fidelity National Financial by 31.9% in the 3rd quarter. Allworth Financial LP now owns 10,542 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 2,548 shares during the period. IFP Advisors Inc lifted its position in Fidelity National Financial by 2.8% during the third quarter. IFP Advisors Inc now owns 62,659 shares of the financial services provider’s stock valued at $3,790,000 after purchasing an additional 1,718 shares in the last quarter. Innova Wealth Partners bought a new stake in Fidelity National Financial during the third quarter valued at about $253,000. Finally, CIBC Private Wealth Group LLC grew its holdings in Fidelity National Financial by 184.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,107 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 1,367 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Insider Activity at Fidelity National Financial

In related news, Director Halim Dhanidina sold 6,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.90, for a total transaction of $335,400.00. Following the completion of the transaction, the director owned 13,186 shares in the company, valued at approximately $737,097.40. This represents a 31.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FNF shares. National Bank Financial set a $71.00 price objective on Fidelity National Financial in a research note on Monday, February 23rd. Keefe, Bruyette & Woods boosted their price objective on Fidelity National Financial from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Wall Street Zen lowered shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Barclays lowered their price target on shares of Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 6th. Finally, Weiss Ratings lowered shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.33.

Fidelity National Financial Price Performance

Shares of Fidelity National Financial stock opened at $43.28 on Friday. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 0.55 and a beta of 0.99. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $52.55 and its 200-day simple moving average is $55.70. Fidelity National Financial, Inc. has a 52 week low of $42.78 and a 52 week high of $66.72.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Thursday, February 19th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.10). Fidelity National Financial had a net margin of 4.17% and a return on equity of 15.06%. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the business posted $1.34 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.08 annualized dividend and a dividend yield of 4.8%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 97.65%.

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.