State Board of Administration of Florida Retirement System cut its holdings in Fidelity National Financial Inc (NYSE:FNF) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,276 shares of the financial services provider’s stock after selling 26,210 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of Fidelity National Financial worth $15,397,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Fidelity National Financial by 177.0% during the second quarter. Teacher Retirement System of Texas now owns 210,917 shares of the financial services provider’s stock worth $7,935,000 after acquiring an additional 134,765 shares during the last quarter. Mackay Shields LLC boosted its position in Fidelity National Financial by 153.2% during the second quarter. Mackay Shields LLC now owns 189,094 shares of the financial services provider’s stock worth $7,114,000 after acquiring an additional 114,418 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fidelity National Financial by 204.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 270,661 shares of the financial services provider’s stock worth $10,182,000 after acquiring an additional 181,631 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Fidelity National Financial by 4.3% during the second quarter. Nomura Asset Management Co. Ltd. now owns 42,621 shares of the financial services provider’s stock worth $1,603,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Wallington Asset Management LLC boosted its position in Fidelity National Financial by 2.0% during the second quarter. Wallington Asset Management LLC now owns 149,390 shares of the financial services provider’s stock worth $5,620,000 after acquiring an additional 2,940 shares during the last quarter. Institutional investors and hedge funds own 84.44% of the company’s stock.
NYSE:FNF opened at $40.62 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.16. The company has a market cap of $10.98 billion, a price-to-earnings 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 results on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The company had revenue of $2.12 million for the quarter, compared to the consensus estimate of $2.11 billion. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. Fidelity National Financial’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. equities analysts predict that Fidelity National Financial Inc will post 2.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, September 13th. Fidelity National Financial’s dividend payout ratio is currently 52.86%.
Fidelity National Financial declared that its board has authorized a share buyback program on Tuesday, July 17th that authorizes the company to buyback 25,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently issued reports on FNF. Zacks Investment Research upgraded shares of 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 shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Finally, Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research note 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 currently has a consensus rating of “Buy” and a consensus price target of $43.50.
In other Fidelity National Financial news, COO Roger S. Jewkes sold 42,025 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $39.52, for a total transaction of $1,660,828.00. Following the transaction, the chief operating officer now owns 201,762 shares of the company’s stock, valued at $7,973,634.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brent B. Bickett sold 50,000 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $40.68, for a total transaction of $2,034,000.00. 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 currently owned by insiders.
Fidelity National Financial 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.
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