Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Fidelity National Financial Inc (NYSE:FNF) by 84.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,471 shares of the financial services provider’s stock after acquiring an additional 212,180 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.17% of Fidelity National Financial worth $18,238,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of FNF. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Fidelity National Financial by 77.3% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,448,841 shares of the financial services provider’s stock valued at $96,361,000 after acquiring an additional 1,067,814 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Fidelity National Financial by 3.0% during the first quarter. Principal Financial Group Inc. now owns 17,034,893 shares of the financial services provider’s stock valued at $681,736,000 after acquiring an additional 500,930 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Fidelity National Financial by 8.1% during the third quarter. Victory Capital Management Inc. now owns 5,179,205 shares of the financial services provider’s stock valued at $203,802,000 after acquiring an additional 386,753 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. increased its holdings in shares of Fidelity National Financial by 22.0% during the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,985,032 shares of the financial services provider’s stock valued at $74,677,000 after acquiring an additional 357,654 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Fidelity National Financial during the second quarter valued at about $11,009,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.
Shares of NYSE FNF opened at $33.66 on Friday. The company has a market capitalization of $9.29 billion, a P/E ratio of 14.83 and a beta of 0.92. Fidelity National Financial Inc has a 52 week low of $31.14 and a 52 week high of $42.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85.
Fidelity National Financial (NYSE:FNF) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.01). The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Fidelity National Financial had a net margin of 10.54% and a return on equity of 16.32%. Fidelity National Financial’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Sell-side analysts predict that Fidelity National Financial Inc will post 2.76 earnings per share for the current fiscal year.
Fidelity National Financial announced that its board has approved a stock buyback program on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The company 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 $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.57%. Fidelity National Financial’s dividend payout ratio is currently 52.86%.
In other Fidelity National Financial news, COO Roger S. Jewkes sold 42,025 shares of the company’s stock in a transaction that occurred 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 approximately $7,973,634.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Cary H. Thompson sold 85,639 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $40.10, for a total value of $3,434,123.90. Following the completion of the sale, the director now owns 74,000 shares in the company, valued at approximately $2,967,400. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.
A number of equities research analysts recently commented on the company. ValuEngine lowered Fidelity National Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. 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. Zacks Investment Research upgraded Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. Finally, Barclays set a $43.00 target price on Fidelity National Financial and gave the company a “buy” rating in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $43.40.
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.
See Also: Earnings Per Share
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