Wells Fargo & Company MN trimmed its position in Fidelity National Financial Inc (NYSE:FNF) by 57.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,912,070 shares of the financial services provider’s stock after selling 6,506,086 shares during the quarter. Wells Fargo & Company MN owned 1.78% of Fidelity National Financial worth $193,289,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Andra AP fonden purchased a new stake in shares of Fidelity National Financial in the 2nd quarter worth $7,848,000. Golden Gate Private Equity Inc. raised its position in shares of Fidelity National Financial by 28.7% in the 2nd quarter. Golden Gate Private Equity Inc. now owns 118,900 shares of the financial services provider’s stock worth $4,473,000 after acquiring an additional 26,500 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Fidelity National Financial by 0.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 472,997 shares of the financial services provider’s stock worth $17,793,000 after acquiring an additional 2,670 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Fidelity National Financial by 8.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 949,136 shares of the financial services provider’s stock worth $35,706,000 after acquiring an additional 72,065 shares in the last quarter. Finally, Boston Partners raised its position in shares of Fidelity National Financial by 21.0% in the 2nd quarter. Boston Partners now owns 122,290 shares of the financial services provider’s stock worth $4,601,000 after acquiring an additional 21,229 shares in the last quarter. Institutional investors and hedge funds own 82.85% of the company’s stock.
In other Fidelity National Financial news, Director John D. Rood bought 31,200 shares of Fidelity National Financial stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $32.51 per share, with a total value of $1,014,312.00. Following the transaction, the director now directly owns 43,681 shares of the company’s stock, valued at approximately $1,420,069.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger S. Jewkes sold 42,025 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $39.52, for a total value of $1,660,828.00. Following the transaction, the chief operating officer now directly owns 201,762 shares in the company, valued at $7,973,634.24. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
Several research analysts have recently commented on FNF shares. Keefe, Bruyette & Woods raised Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research report on Monday, July 16th. Zacks Investment Research raised Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. ValuEngine raised Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Barclays set a $43.00 price target on Fidelity National Financial and gave the stock a “buy” rating in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Fidelity National Financial presently has an average rating of “Hold” and an average target price of $43.40.
Shares of NYSE:FNF opened at $33.70 on Friday. Fidelity National Financial Inc has a 1 year low of $31.14 and a 1 year high of $42.52. The stock has a market cap of $9.16 billion, a P/E ratio of 14.85 and a beta of 0.92. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.
Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.01). Fidelity National Financial had a net margin of 10.54% and a return on equity of 16.32%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts expect that Fidelity National Financial Inc will post 2.76 EPS for the current fiscal year.
Fidelity National Financial declared that its Board of Directors has initiated 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 purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.56%. The ex-dividend date is Thursday, December 13th. Fidelity National Financial’s dividend payout ratio is currently 52.86%.
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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