Boston Partners Increases Holdings in Fidelity National Financial Inc (FNF)

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Boston Partners raised its position in shares of Fidelity National Financial Inc (NYSE:FNF) by 21.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,290 shares of the financial services provider’s stock after purchasing an additional 21,229 shares during the period. Boston Partners’ holdings in Fidelity National Financial were worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pendal Group Ltd lifted its position in shares of Fidelity National Financial by 50.0% during the first quarter. Pendal Group Ltd now owns 276,857 shares of the financial services provider’s stock worth $11,080,000 after acquiring an additional 92,336 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Fidelity National Financial by 7.5% during the first quarter. Hsbc Holdings PLC now owns 318,130 shares of the financial services provider’s stock worth $12,731,000 after acquiring an additional 22,247 shares in the last quarter. Alpha Windward LLC purchased a new stake in shares of Fidelity National Financial during the second quarter worth $514,000. Prudential Financial Inc. lifted its position in shares of Fidelity National Financial by 14.2% during the first quarter. Prudential Financial Inc. now owns 299,001 shares of the financial services provider’s stock worth $11,966,000 after acquiring an additional 37,170 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Fidelity National Financial by 0.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,090,335 shares of the financial services provider’s stock worth $43,635,000 after acquiring an additional 9,445 shares in the last quarter. 81.59% of the stock is owned by institutional investors and hedge funds.

Shares of FNF stock opened at $39.94 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. Fidelity National Financial Inc has a 52-week low of $32.67 and a 52-week high of $42.52. The firm has a market capitalization of $11.00 billion, a P/E ratio of 17.59 and a beta of 0.84.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. Fidelity National Financial had a return on equity of 15.29% and a net margin of 9.82%. The company had revenue of $2.12 million for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.75 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. analysts predict that Fidelity National Financial Inc will post 2.82 EPS for the current year.

Fidelity National Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, July 17th that allows the company to repurchase 25,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 52.86%.

In related news, COO Roger S. Jewkes sold 42,025 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $39.52, for a total value of $1,660,828.00. Following the sale, the chief operating officer now owns 201,762 shares in the company, valued at $7,973,634.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brent B. Bickett sold 50,000 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $40.68, for a total value of $2,034,000.00. The disclosure for this sale can be found here. Insiders sold 191,688 shares of company stock worth $7,505,007 in the last quarter. 6.10% of the stock is currently owned by company insiders.

Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Monday, August 6th. ValuEngine downgraded Fidelity National Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Finally, Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research report on Monday, July 16th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $43.50.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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