Quadrature Capital Ltd acquired a new position in shares of Fidelity National Financial Inc (NYSE:FNF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 39,000 shares of the financial services provider’s stock, valued at approximately $1,196,000.
Other institutional investors have also modified their holdings of the company. Brinker Capital Inc. increased its holdings in Fidelity National Financial by 20.4% during the 1st quarter. Brinker Capital Inc. now owns 17,559 shares of the financial services provider’s stock worth $437,000 after purchasing an additional 2,979 shares in the last quarter. Prudential PLC raised its stake in shares of Fidelity National Financial by 39.0% during the 1st quarter. Prudential PLC now owns 45,362 shares of the financial services provider’s stock worth $1,129,000 after purchasing an additional 12,731 shares in the last quarter. Forsta AP Fonden bought a new stake in shares of Fidelity National Financial during the 1st quarter worth approximately $216,000. Cadence Capital Management LLC raised its stake in shares of Fidelity National Financial by 16.6% during the 1st quarter. Cadence Capital Management LLC now owns 11,344 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 1,613 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Fidelity National Financial by 69.8% during the 1st quarter. KBC Group NV now owns 62,563 shares of the financial services provider’s stock worth $1,557,000 after purchasing an additional 25,716 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of FNF traded up $0.34 during trading hours on Friday, hitting $33.27. 2,056,215 shares of the company were exchanged, compared to its average volume of 1,520,986. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.38. Fidelity National Financial Inc has a fifty-two week low of $19.00 and a fifty-two week high of $49.28. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 11.05 and a beta of 1.24. The firm’s fifty day moving average is $33.20 and its 200 day moving average is $31.45.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.38. Fidelity National Financial had a return on equity of 19.57% and a net margin of 9.70%. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company earned $0.92 EPS. Fidelity National Financial’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that Fidelity National Financial Inc will post 3.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, September 15th. Fidelity National Financial’s dividend payout ratio is presently 38.94%.
In other news, President Michael Joseph Nolan sold 25,000 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $34.21, for a total value of $855,250.00. Following the sale, the president now directly owns 256,732 shares of the company’s stock, valued at approximately $8,782,801.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Raymond R. Quirk sold 256,181 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $32.60, for a total transaction of $8,351,500.60. Following the completion of the sale, the chief executive officer now directly owns 627,925 shares in the company, valued at $20,470,355. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,181 shares of company stock valued at $9,892,151. Company insiders own 5.80% of the company’s stock.
FNF has been the topic of a number of analyst reports. Zacks Investment Research upgraded Fidelity National Financial from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods upped their price objective on Fidelity National Financial from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $35.00.
Fidelity National Financial Profile
Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products 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 trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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