PNC Financial Services Group Inc. trimmed its holdings in Fidelity National Financial, Inc. (NYSE:FNF – Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 413,623 shares of the financial services provider’s stock after selling 18,594 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fidelity National Financial were worth $19,184,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Canton Hathaway LLC purchased a new stake in shares of Fidelity National Financial during the fourth quarter valued at $26,000. Commonwealth Retirement Investments LLC purchased a new stake in Fidelity National Financial in the 4th quarter valued at about $28,000. Headlands Technologies LLC purchased a new stake in shares of Fidelity National Financial in the second quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC raised its position in Fidelity National Financial by 57.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 353 shares in the last quarter. Finally, Torren Management LLC bought a new stake in Fidelity National Financial during the 4th quarter valued at $57,000. 81.17% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on FNF shares. Stephens dropped their target price on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. National Bank Financial set a $51.00 price target on Fidelity National Financial in a research report on Tuesday, July 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Keefe, Bruyette & Woods cut their price target on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Finally, Zacks Research downgraded Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Fidelity National Financial presently has an average rating of “Hold” and a consensus price target of $56.00.
Insiders Place Their Bets
In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the transaction, the executive vice president directly owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.70% of the company’s stock.
Fidelity National Financial Trading Up 6.2%
Shares of NYSE:FNF opened at $51.64 on Friday. Fidelity National Financial, Inc. has a 52-week low of $42.78 and a 52-week high of $61.40. The stock has a market cap of $13.90 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 0.73 and a beta of 0.96. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $48.36 and a 200-day moving average price of $50.08.
Fidelity National Financial (NYSE:FNF – Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Fidelity National Financial’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts predict that Fidelity National Financial, Inc. will post 5.14 EPS for the current year.
Fidelity National Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.52 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. Fidelity National Financial’s dividend payout ratio is presently 75.91%.
About Fidelity National Financial
Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.
FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.
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