Summit Global Investments Takes Position in Fidelity National Financial, Inc. (NYSE:FNF)

Summit Global Investments acquired a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,920 shares of the financial services provider's stock, valued at approximately $2,859,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Fidelity National Financial by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,412,888 shares of the financial services provider's stock valued at $472,300,000 after purchasing an additional 387,729 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Fidelity National Financial by 1.2% in the fourth quarter. Victory Capital Management Inc. now owns 8,093,184 shares of the financial services provider's stock valued at $454,351,000 after buying an additional 98,751 shares during the last quarter. Geode Capital Management LLC boosted its position in Fidelity National Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,462,837 shares of the financial services provider's stock worth $276,343,000 after acquiring an additional 69,643 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in Fidelity National Financial by 0.9% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,849,429 shares of the financial services provider's stock worth $103,827,000 after acquiring an additional 15,664 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fidelity National Financial by 3.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,530,424 shares of the financial services provider's stock valued at $94,978,000 after acquiring an additional 57,316 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Fidelity National Financial Stock Up 0.6 %

Shares of NYSE:FNF traded up $0.41 during midday trading on Tuesday, hitting $65.29. 1,533,681 shares of the company's stock traded hands, compared to its average volume of 1,032,972. The firm's fifty day moving average price is $60.32 and its two-hundred day moving average price is $59.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. Fidelity National Financial, Inc. has a twelve month low of $46.85 and a twelve month high of $65.79. The company has a market cap of $17.95 billion, a PE ratio of 14.04 and a beta of 1.32.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its earnings results on Thursday, February 20th. The financial services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.11. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.33 billion. Fidelity National Financial had a return on equity of 15.36% and a net margin of 9.28%. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, equities research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, March 17th. Fidelity National Financial's payout ratio is 43.01%.

Insider Buying and Selling

In other Fidelity National Financial news, Director Halim Dhanidina sold 2,800 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $54.85, for a total transaction of $153,580.00. Following the transaction, the director now directly owns 16,716 shares in the company, valued at $916,872.60. This represents a 14.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Fidelity National Financial from a "hold" rating to a "buy" rating and raised their price objective for the stock from $76.00 to $77.00 in a report on Friday, January 3rd. Stephens lifted their price target on Fidelity National Financial from $68.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Keefe, Bruyette & Woods cut their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set a "market perform" rating on the stock in a report on Wednesday, January 8th. Barclays upped their price target on shares of Fidelity National Financial from $61.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Monday, February 24th. Finally, StockNews.com downgraded shares of Fidelity National Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.40.

Fidelity National Financial Company Profile

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.