State of Wisconsin Investment Board cut its position in Fidelity National Financial Inc (NYSE:FNF) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,615 shares of the financial services provider’s stock after selling 13,141 shares during the quarter. State of Wisconsin Investment Board owned about 0.09% of Fidelity National Financial worth $8,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pendal Group Ltd lifted its stake in Fidelity National Financial by 50.0% in the 1st quarter. Pendal Group Ltd now owns 276,857 shares of the financial services provider’s stock worth $11,080,000 after purchasing an additional 92,336 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Fidelity National Financial by 7.5% during the 1st quarter. Hsbc Holdings PLC now owns 318,130 shares of the financial services provider’s stock valued at $12,731,000 after buying an additional 22,247 shares in the last quarter. Alpha Windward LLC purchased a new stake in shares of Fidelity National Financial during the 2nd quarter valued at $514,000. Prudential Financial Inc. raised its position in shares of Fidelity National Financial by 14.2% during the 1st quarter. Prudential Financial Inc. now owns 299,001 shares of the financial services provider’s stock valued at $11,966,000 after buying an additional 37,170 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in shares of Fidelity National Financial by 0.9% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,090,335 shares of the financial services provider’s stock valued at $43,635,000 after buying an additional 9,445 shares in the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.
Fidelity National Financial stock opened at $40.62 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $10.98 billion, a PE ratio of 15.42 and a beta of 0.84. Fidelity National Financial Inc has a fifty-two week low of $32.67 and a fifty-two week high of $42.52.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.04. The firm had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $2.11 billion. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. equities analysts forecast that Fidelity National Financial Inc will post 2.82 earnings per share for the current year.
Fidelity National Financial declared that its board has approved a stock buyback plan on Tuesday, July 17th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Thursday, September 13th. Fidelity National Financial’s dividend payout ratio is currently 52.86%.
In related news, insider Brent B. Bickett sold 50,000 shares of the stock in a transaction on Friday, July 27th. The shares were sold at an average price of $40.68, for a total transaction of $2,034,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Anthony Park sold 55,779 shares of the stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $36.99, for a total transaction of $2,063,265.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,688 shares of company stock worth $7,505,007. 6.10% of the stock is owned by insiders.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 30th. ValuEngine cut shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.50.
About Fidelity National Financial
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.
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