Andra AP fonden acquired a new stake in Fidelity National Financial Inc (NYSE:FNF) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 208,600 shares of the financial services provider’s stock, valued at approximately $7,848,000. Andra AP fonden owned approximately 0.08% of Fidelity National Financial at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc purchased a new stake in shares of Fidelity National Financial in the 2nd quarter worth $168,000. Csenge Advisory Group purchased a new stake in shares of Fidelity National Financial in the 1st quarter worth $200,000. Zacks Investment Management purchased a new stake in shares of Fidelity National Financial in the 2nd quarter worth $200,000. Capital One National Association purchased a new stake in shares of Fidelity National Financial in the 2nd quarter worth $202,000. Finally, IBM Retirement Fund purchased a new stake in shares of Fidelity National Financial in the 1st quarter worth $231,000. 82.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fidelity National Financial stock traded up $0.04 during trading on Friday, reaching $35.05. 1,682,606 shares of the stock traded hands, compared to its average volume of 1,285,057. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 15.44 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Fidelity National Financial Inc has a 52-week low of $34.00 and a 52-week high of $42.52.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. The firm had revenue of $2.12 million during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Fidelity National Financial Inc will post 2.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, September 13th. Fidelity National Financial’s payout ratio is 52.86%.
Fidelity National Financial announced that its Board of Directors has initiated a stock buyback program on Tuesday, July 17th that permits the company to repurchase 25,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have issued reports on FNF shares. Zacks Investment Research upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Monday, August 6th. Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research note on Monday, July 16th. Finally, ValuEngine upgraded Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.50.
In other Fidelity National Financial news, COO Roger S. Jewkes sold 43,409 shares of the firm’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $39.79, for a total value of $1,727,244.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cary H. Thompson sold 85,639 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $40.10, for a total transaction of $3,434,123.90. Following the completion of the sale, the director now directly owns 74,000 shares of the company’s stock, valued at approximately $2,967,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,548 shares of company stock valued at $8,875,866. 6.10% of the stock is owned by insiders.
About Fidelity National Financial
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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