Bank of New York Mellon Corp Has $137.36 Million Stake in Fidelity National Financial, Inc. $FNF

Bank of New York Mellon Corp trimmed its position in Fidelity National Financial, Inc. (NYSE:FNF) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,516,236 shares of the financial services provider’s stock after selling 208,429 shares during the period. Bank of New York Mellon Corp’s holdings in Fidelity National Financial were worth $137,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Windacre Partnership LLC raised its stake in Fidelity National Financial by 31.0% during the third quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider’s stock worth $1,143,569,000 after acquiring an additional 4,477,900 shares in the last quarter. Norges Bank acquired a new position in Fidelity National Financial during the fourth quarter worth $181,017,000. Alliancebernstein L.P. raised its stake in Fidelity National Financial by 167.8% during the third quarter. Alliancebernstein L.P. now owns 4,741,145 shares of the financial services provider’s stock worth $286,792,000 after acquiring an additional 2,970,460 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Fidelity National Financial by 75.4% in the third quarter. AQR Capital Management LLC now owns 5,057,355 shares of the financial services provider’s stock valued at $304,503,000 after buying an additional 2,174,220 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Fidelity National Financial in the fourth quarter valued at $36,362,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $47.37 on Friday. The stock has a 50-day moving average price of $48.46 and a 200 day moving average price of $52.15. 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 firm has a market cap of $12.75 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.69 and a beta of 0.96. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month high of $61.40.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. Research analysts expect that Fidelity National Financial, Inc. will post 5.29 EPS for the current year.

Fidelity National Financial Announces Dividend

The business 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, June 16th. Fidelity National Financial’s payout ratio is presently 75.91%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FNF shares. National Bank Financial set a $50.00 target price on Fidelity National Financial in a research note on Monday, May 11th. Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Barclays lowered their target price on Fidelity National Financial from $54.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Weiss Ratings lowered Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on Fidelity National Financial from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.25.

Fidelity National Financial Profile

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.