NN Investment Partners Holdings N.V. trimmed its position in shares of Fidelity National Financial Inc (NYSE:FNF) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,762 shares of the financial services provider’s stock after selling 10,980 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Fidelity National Financial were worth $5,224,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Keybank National Association OH increased its holdings in shares of Fidelity National Financial by 9.8% during the 2nd quarter. Keybank National Association OH now owns 14,952 shares of the financial services provider’s stock worth $562,000 after buying an additional 1,336 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Fidelity National Financial by 8.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 18,650 shares of the financial services provider’s stock worth $702,000 after buying an additional 1,409 shares during the last quarter. Thompson Investment Management Inc. increased its holdings in shares of Fidelity National Financial by 1.2% during the 2nd quarter. Thompson Investment Management Inc. now owns 124,020 shares of the financial services provider’s stock worth $4,666,000 after buying an additional 1,465 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Fidelity National Financial by 4.3% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,621 shares of the financial services provider’s stock valued at $1,603,000 after purchasing an additional 1,776 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in Fidelity National Financial by 4.2% in the 2nd quarter. Stephens Inc. AR now owns 49,367 shares of the financial services provider’s stock valued at $1,857,000 after purchasing an additional 1,974 shares in the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.
Shares of NYSE FNF opened at $32.90 on Friday. Fidelity National Financial Inc has a 12-month low of $31.14 and a 12-month high of $42.52. The firm has a market capitalization of $9.21 billion, a P/E ratio of 12.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.80.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts forecast that Fidelity National Financial Inc will post 2.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.20 annualized dividend and a yield of 3.65%. Fidelity National Financial’s dividend payout ratio is currently 52.86%.
Fidelity National Financial announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 17th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several analysts recently issued reports on FNF shares. Barclays set a $43.00 price target on Fidelity National Financial and gave the company a “buy” rating in a report on Friday, October 26th. Zacks Investment Research upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Monday, August 6th. ValuEngine upgraded Fidelity National Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Fidelity National Financial presently has a consensus rating of “Hold” and a consensus price target of $43.40.
In other news, Director Cary H. Thompson sold 85,639 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $40.10, for a total transaction of $3,434,123.90. Following the completion of the sale, the director now directly owns 74,000 shares in the company, valued at $2,967,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger S. Jewkes sold 42,025 shares of the firm’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 sale, the chief operating officer now owns 201,762 shares of the company’s stock, valued at $7,973,634.24. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.
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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