Swiss National Bank increased its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF – Free Report) by 6.8% during the 1st quarter, HoldingsChannel reports. The fund owned 755,900 shares of the financial services provider’s stock after buying an additional 48,300 shares during the period. Swiss National Bank’s holdings in Fidelity National Financial were worth $35,059,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Windacre Partnership LLC increased its stake in shares of Fidelity National Financial by 31.0% during the third quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider’s stock valued at $1,143,569,000 after purchasing an additional 4,477,900 shares in the last quarter. Norges Bank purchased a new position in shares of Fidelity National Financial during the fourth quarter valued at approximately $181,017,000. AQR Capital Management LLC boosted its position in shares of Fidelity National Financial by 75.4% in the 3rd quarter. AQR Capital Management LLC now owns 5,057,355 shares of the financial services provider’s stock worth $304,503,000 after purchasing an additional 2,174,220 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Fidelity National Financial by 368.3% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,685 shares of the financial services provider’s stock worth $99,265,000 after purchasing an additional 1,392,560 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Fidelity National Financial in the 4th quarter worth approximately $36,362,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.
Insider Buying and Selling at Fidelity National Financial
In other 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 $260,581.40. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.70% of the stock is owned by corporate insiders.
Fidelity National Financial Trading Down 3.4%
Fidelity National Financial (NYSE:FNF – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.Fidelity National Financial’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities research analysts forecast that Fidelity National Financial, Inc. will post 5.14 earnings per share for the current fiscal year.
Fidelity National Financial Dividend Announcement
The firm also recently declared 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 annualized dividend and a dividend yield of 4.3%. Fidelity National Financial’s payout ratio is currently 75.91%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. National Bank Financial set a $51.00 price objective on Fidelity National Financial in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods dropped their target price on Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Barclays increased their target price on Fidelity National Financial from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Stephens reduced their price target 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. Finally, Zacks Research downgraded Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.00.
View Our Latest Stock Report on FNF
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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