Parallel Advisors LLC Has $36,000 Position in Fidelity National Financial, Inc. (NYSE:FNF)

Posted by on May 6th, 2023

Parallel Advisors LLC lessened its stake in Fidelity National Financial, Inc. (NYSE:FNF – Get Rating) by 51.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 950 shares of the financial services provider’s stock after selling 993 shares during the quarter. Parallel Advisors LLC’s holdings in Fidelity National Financial were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. acquired a new stake in Fidelity National Financial during the second quarter valued at $26,000. Paragon Wealth Strategies LLC purchased a new stake in shares of Fidelity National Financial during the 3rd quarter worth about $29,000. Ten Capital Wealth Advisors LLC acquired a new stake in shares of Fidelity National Financial during the 3rd quarter valued at about $31,000. Ronald Blue Trust Inc. grew its stake in shares of Fidelity National Financial by 729.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 995 shares of the financial services provider’s stock valued at $36,000 after buying an additional 875 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Fidelity National Financial in the first quarter worth approximately $54,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Fidelity National Financial Stock Up 2.6 %

FNF stock opened at $34.14 on Friday. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 13.93 and a beta of 1.34. The company has a 50-day moving average of $35.17 and a two-hundred day moving average of $38.31. Fidelity National Financial, Inc. has a 52-week low of $31.84 and a 52-week high of $45.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.20 and a quick ratio of 0.20.

Fidelity National Financial (NYSE:FNF – Get Rating) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.42). The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.45 billion. Fidelity National Financial had a net margin of 6.26% and a return on equity of 20.29%. Fidelity National Financial’s revenue for the quarter was down 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. As a group, equities research analysts anticipate that Fidelity National Financial, Inc. will post 4.56 EPS for the current year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Thursday, June 15th. Fidelity National Financial’s dividend payout ratio (DPR) is currently 73.47%.

Analysts Set New Price Targets

Several analysts have commented on FNF shares. Keefe, Bruyette & Woods decreased their target price on shares of Fidelity National Financial from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, February 28th. StockNews.com assumed coverage on shares of Fidelity National Financial in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Barclays reduced their price target on Fidelity National Financial from $46.00 to $43.00 in a research report on Friday. Truist Financial decreased their price target on Fidelity National Financial from $56.00 to $48.00 in a research note on Friday. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $47.00 price objective on shares of Fidelity National Financial in a research note on Thursday, March 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.40.

Fidelity National Financial Company Profile

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Fidelity National Financial, Inc engages in the provision of title insurance and transaction services to the real estate and mortgage industries. Its services include title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products and technology and transaction services to the real estate and mortgage industries.

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Institutional Ownership by Quarter for Fidelity National Financial (NYSE:FNF)

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