Cubist Systematic Strategies LLC Makes New $3.96 Million Investment in Fidelity National Financial, Inc. (NYSE:FNF)

Cubist Systematic Strategies LLC purchased a new position in Fidelity National Financial, Inc. (NYSE:FNF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,450 shares of the financial services provider’s stock, valued at approximately $3,955,000.

A number of other hedge funds have also modified their holdings of the company. Capital Analysts LLC bought a new position in Fidelity National Financial in the 4th quarter worth $29,000. Parkside Financial Bank & Trust boosted its stake in shares of Fidelity National Financial by 50.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 622 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 209 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Fidelity National Financial during the fourth quarter worth about $37,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Fidelity National Financial during the fourth quarter worth about $44,000. Finally, Golden State Wealth Management LLC bought a new stake in Fidelity National Financial during the 4th quarter valued at approximately $52,000. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Stock Down 3.2 %

Shares of NYSE FNF opened at $57.83 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. Fidelity National Financial, Inc. has a 12-month low of $47.79 and a 12-month high of $66.72. The firm’s 50-day moving average price is $62.72 and its 200-day moving average price is $60.38. The stock has a market capitalization of $15.88 billion, a price-to-earnings ratio of 12.44 and a beta of 1.14.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.35). The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. The company’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, equities research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Monday, June 16th. Fidelity National Financial’s dividend payout ratio is currently 49.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stephens increased their price objective on shares of Fidelity National Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 24th. StockNews.com cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $69.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Barclays lifted their target price on Fidelity National Financial from $61.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Fidelity National Financial currently has an average rating of “Moderate Buy” and a consensus target price of $71.60.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.