Confluence Investment Management LLC Decreases Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

Confluence Investment Management LLC reduced its position in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,282,039 shares of the financial services provider's stock after selling 50,526 shares during the quarter. Fidelity National Financial makes up about 1.8% of Confluence Investment Management LLC's holdings, making the stock its 17th biggest holding. Confluence Investment Management LLC owned about 0.83% of Fidelity National Financial worth $128,114,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Fidelity National Financial during the third quarter valued at approximately $32,000. Brooklyn Investment Group bought a new stake in Fidelity National Financial in the third quarter valued at $35,000. True Wealth Design LLC purchased a new position in Fidelity National Financial during the 3rd quarter valued at $41,000. UMB Bank n.a. raised its holdings in Fidelity National Financial by 280.6% in the 3rd quarter. UMB Bank n.a. now owns 685 shares of the financial services provider's stock worth $43,000 after purchasing an additional 505 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Fidelity National Financial by 141.1% in the 3rd quarter. Larson Financial Group LLC now owns 687 shares of the financial services provider's stock worth $43,000 after purchasing an additional 402 shares during the period. Hedge funds and other institutional investors own 81.17% of the company's stock.

Insider Activity

In other news, Director Sandra Douglass Morgan sold 2,092 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $56.33, for a total value of $117,842.36. Following the completion of the sale, the director now directly owns 32,386 shares of the company's stock, valued at $1,824,303.38. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FNF shares. Truist Financial boosted their price target on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods upped their target price on Fidelity National Financial from $63.00 to $64.00 and gave the stock a "market perform" rating in a report on Tuesday, December 10th. Finally, Barclays raised their target price on Fidelity National Financial from $56.00 to $59.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $63.80.

Fidelity National Financial Stock Down 0.3 %

Shares of NYSE FNF traded down $0.16 on Thursday, reaching $55.98. 763,913 shares of the company's stock traded hands, compared to its average volume of 1,186,139. The business's 50 day simple moving average is $59.83 and its two-hundred day simple moving average is $57.48. Fidelity National Financial, Inc. has a 12 month low of $46.85 and a 12 month high of $64.83. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 20.36 and a beta of 1.36. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.47.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.41 by ($0.11). The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.32 billion. Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The firm's revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. As a group, equities research analysts forecast that Fidelity National Financial, Inc. will post 4.57 EPS for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.57%. This is a positive change from Fidelity National Financial's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, December 17th. Fidelity National Financial's payout ratio is 72.73%.

About Fidelity National Financial

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.