Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stake in Fidelity National Financial, Inc. $FNF

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,469 shares of the financial services provider’s stock after selling 10,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fidelity National Financial were worth $3,960,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Fidelity National Financial by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 27,755,047 shares of the financial services provider’s stock valued at $1,555,948,000 after acquiring an additional 580,133 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Fidelity National Financial by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 9,235,289 shares of the financial services provider’s stock valued at $517,730,000 after purchasing an additional 234,288 shares during the last quarter. Geode Capital Management LLC grew its holdings in Fidelity National Financial by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,795,238 shares of the financial services provider’s stock valued at $268,026,000 after purchasing an additional 37,473 shares during the period. Norges Bank purchased a new stake in Fidelity National Financial in the second quarter worth $189,685,000. Finally, First Trust Advisors LP raised its stake in shares of Fidelity National Financial by 252.4% in the second quarter. First Trust Advisors LP now owns 3,379,555 shares of the financial services provider’s stock valued at $189,458,000 after buying an additional 2,420,421 shares during the period. Institutional investors own 81.17% of the company’s stock.

Analyst Ratings Changes

FNF has been the subject of several research reports. Wall Street Zen upgraded Fidelity National Financial from a “hold” rating to a “buy” rating in a research note on Sunday. National Bankshares set a $63.00 target price on shares of Fidelity National Financial in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price target on shares of Fidelity National Financial from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Barclays dropped their price target on shares of Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Fidelity National Financial in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

Insider Activity

In other Fidelity National Financial news, Director Daniel D. Lane sold 6,367 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $57.63, for a total value of $366,930.21. Following the transaction, the director directly owned 276,308 shares in the company, valued at $15,923,630.04. This represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Halim Dhanidina sold 6,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $55.90, for a total value of $335,400.00. Following the completion of the sale, the director directly owned 13,186 shares in the company, valued at approximately $737,097.40. The trade was a 31.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.50% of the stock is owned by insiders.

Fidelity National Financial Price Performance

FNF stock opened at $52.88 on Monday. The firm has a 50 day moving average of $56.53 and a 200-day moving average of $57.24. The firm has a market capitalization of $14.87 billion, a P/E ratio of 12.75 and a beta of 1.00. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.47.

Fidelity National Financial (NYSE:FNF) last posted its earnings results on Monday, November 10th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.20. Fidelity National Financial had a net margin of 8.34% and a return on equity of 15.06%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the company posted $1.30 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a dividend of $0.52 per share. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 17th. Fidelity National Financial’s dividend payout ratio is 50.12%.

Fidelity National Financial Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.