Convergence Investment Partners LLC Invests $1.01 Million in Fidelity National Financial, Inc. (NYSE:FNF)

Convergence Investment Partners LLC purchased a new stake in Fidelity National Financial, Inc. (NYSE:FNF) during the 1st quarter, Holdings Channel.com reports. The fund purchased 15,452 shares of the financial services provider’s stock, valued at approximately $1,006,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FNF. Norges Bank acquired a new stake in shares of Fidelity National Financial in the fourth quarter valued at about $158,386,000. Invesco Ltd. boosted its holdings in Fidelity National Financial by 53.3% in the 4th quarter. Invesco Ltd. now owns 2,199,684 shares of the financial services provider’s stock worth $123,490,000 after acquiring an additional 764,958 shares during the period. Hsbc Holdings PLC grew its position in Fidelity National Financial by 99.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,437,460 shares of the financial services provider’s stock valued at $80,689,000 after acquiring an additional 715,070 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Fidelity National Financial by 135.8% during the fourth quarter. AQR Capital Management LLC now owns 1,167,485 shares of the financial services provider’s stock valued at $65,543,000 after purchasing an additional 672,323 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Fidelity National Financial by 8,302.5% during the first quarter. GAMMA Investing LLC now owns 626,655 shares of the financial services provider’s stock worth $40,783,000 after purchasing an additional 619,197 shares in the last quarter. 81.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FNF. Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $69.00 price target for the company in a research report on Tuesday, April 8th. Barclays lowered their price objective on Fidelity National Financial from $67.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, July 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Fidelity National Financial has a consensus rating of “Moderate Buy” and an average price target of $71.20.

Fidelity National Financial Stock Down 0.3%

FNF stock opened at $55.54 on Thursday. The company has a 50 day moving average of $55.13 and a two-hundred day moving average of $58.72. The company has a market cap of $15.25 billion, a price-to-earnings ratio of 13.75 and a beta of 1.02. Fidelity National Financial, Inc. has a 12-month low of $50.61 and a 12-month high of $66.72. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.35). The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $3.32 billion. Fidelity National Financial had a return on equity of 14.88% and a net margin of 8.43%. The business’s revenue for the quarter was down 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. On average, equities analysts anticipate that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Monday, June 16th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 49.50%.

Fidelity National Financial 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.