First Citizens Bank & Trust Co. decreased its position in shares of Fidelity National Financial Inc. (NYSE:FNF) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,732 shares of the company’s stock after selling 2,193 shares during the period. First Citizens Bank & Trust Co.’s holdings in Fidelity National Financial were worth $740,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FNY Managed Accounts LLC raised its position in Fidelity National Financial by 258.3% in the second quarter. FNY Managed Accounts LLC now owns 4,300 shares of the company’s stock worth $161,000 after buying an additional 3,100 shares during the period. Capstone Asset Management Co. bought a new position in Fidelity National Financial during the second quarter worth $204,000. Hartford Investment Management Co. bought a new position in Fidelity National Financial during the second quarter worth $225,000. OMERS ADMINISTRATION Corp bought a new position in Fidelity National Financial during the first quarter worth $247,000. Finally, First Midwest Bank Trust Division bought a new position in Fidelity National Financial during the second quarter worth $299,000. 85.54% of the stock is owned by institutional investors.
Fidelity National Financial Inc. (NYSE:FNF) traded up 0.82% during trading on Thursday, hitting $36.87. The stock had a trading volume of 314,696 shares. Fidelity National Financial Inc. has a 52-week low of $28.24 and a 52-week high of $38.50. The company’s 50 day moving average is $37.22 and its 200 day moving average is $35.58. The firm has a market cap of $10.05 billion, a PE ratio of 18.80 and a beta of 0.76.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. The firm earned $2.10 billion during the quarter, compared to analyst estimates of $2.08 billion. Fidelity National Financial had a return on equity of 9.47% and a net margin of 6.69%. Fidelity National Financial’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Equities research analysts forecast that Fidelity National Financial Inc. will post $2.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.30%. Fidelity National Financial’s payout ratio is 42.64%.
A number of analysts have commented on the company. Zacks Investment Research raised Fidelity National Financial from a “sell” rating to a “hold” rating in a report on Monday, July 4th. Piper Jaffray Cos. lifted their target price on Fidelity National Financial from $38.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, July 5th. Keefe, Bruyette & Woods lowered Fidelity National Financial from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $38.00 to $39.00 in a report on Monday, July 18th. Finally, Barclays PLC reissued an “overweight” rating and issued a $48.00 target price on shares of Fidelity National Financial in a report on Monday, July 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Fidelity National Financial currently has a consensus rating of “Buy” and an average target price of $42.33.
In related news, EVP Peter T. Sadowski sold 15,809 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $37.55, for a total value of $593,627.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cary H. Thompson sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $36.93, for a total value of $110,790.00. Following the completion of the sale, the director now owns 40,694 shares of the company’s stock, valued at approximately $1,502,829.42. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.