Alliancebernstein L.P. Acquires 2,970,460 Shares of Fidelity National Financial, Inc. $FNF

Alliancebernstein L.P. boosted its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 167.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,741,145 shares of the financial services provider’s stock after buying an additional 2,970,460 shares during the quarter. Alliancebernstein L.P. owned 1.75% of Fidelity National Financial worth $286,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FNF. Creative Planning grew its stake in shares of Fidelity National Financial by 124.5% in the third quarter. Creative Planning now owns 57,331 shares of the financial services provider’s stock worth $3,468,000 after acquiring an additional 31,797 shares during the period. AQR Capital Management LLC grew its holdings in shares of Fidelity National Financial by 75.4% in the third quarter. AQR Capital Management LLC now owns 5,057,355 shares of the financial services provider’s stock worth $304,503,000 after acquiring an additional 2,174,220 shares during the period. Zacks Investment Management grew its holdings in shares of Fidelity National Financial by 0.3% in the third quarter. Zacks Investment Management now owns 568,090 shares of the financial services provider’s stock worth $34,364,000 after acquiring an additional 1,687 shares during the period. Credit Agricole S A purchased a new stake in Fidelity National Financial during the third quarter valued at $615,000. Finally, Raymond James Financial Inc. increased its position in Fidelity National Financial by 11.6% during the third quarter. Raymond James Financial Inc. now owns 609,074 shares of the financial services provider’s stock valued at $36,843,000 after acquiring an additional 63,411 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Trading Up 2.3%

Shares of Fidelity National Financial stock opened at $47.54 on Monday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.49. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 0.60 and a beta of 0.99. Fidelity National Financial, Inc. has a twelve month low of $45.94 and a twelve month high of $66.72. The business has a 50-day moving average price of $53.46 and a 200-day moving average price of $56.14.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Thursday, February 19th. The financial services provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.10). Fidelity National Financial had a net margin of 4.17% and a return on equity of 15.06%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the company posted $1.34 earnings per share. Fidelity National Financial’s quarterly revenue was up 11.9% on a year-over-year basis. 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 Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. Fidelity National Financial’s dividend payout ratio (DPR) is 97.65%.

Analyst Upgrades and Downgrades

FNF has been the topic of several research reports. National Bank Financial set a $71.00 target price on Fidelity National Financial in a research report on Monday, February 23rd. Barclays decreased their target price on Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 6th. Wall Street Zen downgraded Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods lifted their price objective on Fidelity National Financial from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings downgraded shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Fidelity National Financial currently has an average rating of “Moderate Buy” and an average target price of $68.33.

Insiders Place Their Bets

In related news, Director Halim Dhanidina sold 6,000 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.90, for a total value of $335,400.00. Following the sale, the director owned 13,186 shares in the company, valued at approximately $737,097.40. The trade was a 31.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

About Fidelity National Financial

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.