KBC Group NV lowered its position in shares of Fidelity National Financial, Inc. (NYSE:FNF – Free Report) by 61.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,132 shares of the financial services provider’s stock after selling 41,049 shares during the quarter. KBC Group NV’s holdings in Fidelity National Financial were worth $1,212,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Fidelity National Financial in the 4th quarter valued at about $26,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Fidelity National Financial in the 4th quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in shares of Fidelity National Financial in the 2nd quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC lifted its stake in Fidelity National Financial by 57.2% during the fourth 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 during the last quarter. Finally, Torren Management LLC bought a new stake in Fidelity National Financial during the fourth quarter worth approximately $57,000. 81.17% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have issued reports on FNF. Zacks Research lowered shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. National Bank Financial set a $51.00 target price on Fidelity National Financial in a report on Tuesday, July 7th. Barclays boosted their target price on Fidelity National Financial from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Stephens reduced their target price on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Fidelity National Financial currently has a consensus rating of “Hold” and a consensus target price of $56.00.
Insiders Place Their Bets
In related news, EVP Peter T. Sadowski sold 69,196 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $45.70, for a total transaction of $3,162,257.20. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.70% of the company’s stock.
Fidelity National Financial Trading Up 6.2%
Fidelity National Financial stock 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 company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market capitalization of $13.90 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 0.77 and a beta of 0.96. The company 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 announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.16). The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.61 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. Fidelity National Financial’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. Research analysts forecast that Fidelity National Financial, Inc. will post 5.14 EPS for the current year.
Fidelity National Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.52 per share. 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 payout ratio is currently 75.91%.
Fidelity National Financial Company Profile
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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