Exchange Traded Concepts LLC Acquires 14,735 Shares of Fidelity National Financial, Inc. $FNF

Exchange Traded Concepts LLC lifted its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 29.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,958 shares of the financial services provider’s stock after buying an additional 14,735 shares during the period. Exchange Traded Concepts LLC’s holdings in Fidelity National Financial were worth $3,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FNF. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Fidelity National Financial in the third quarter valued at $14,576,000. Federated Hermes Inc. increased its stake in shares of Fidelity National Financial by 13.4% during the 2nd quarter. Federated Hermes Inc. now owns 165,517 shares of the financial services provider’s stock worth $9,279,000 after purchasing an additional 19,503 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of Fidelity National Financial by 12.3% during the 3rd quarter. Cooke & Bieler LP now owns 5,258,399 shares of the financial services provider’s stock worth $318,081,000 after purchasing an additional 574,189 shares during the last quarter. CWM LLC raised its holdings in shares of Fidelity National Financial by 389.7% in the 3rd quarter. CWM LLC now owns 120,505 shares of the financial services provider’s stock valued at $7,289,000 after purchasing an additional 95,895 shares during the period. Finally, Amundi raised its holdings in shares of Fidelity National Financial by 32.3% in the 2nd quarter. Amundi now owns 562,348 shares of the financial services provider’s stock valued at $32,228,000 after purchasing an additional 137,381 shares during the period. Institutional investors and hedge funds own 81.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FNF. Wall Street Zen cut Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday, January 26th. National Bank Financial set a $71.00 price objective on Fidelity National Financial in a research note on Monday, February 23rd. Weiss Ratings cut Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 2nd. Keefe, Bruyette & Woods lifted their target price on Fidelity National Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Finally, 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

Fidelity National Financial Price Performance

NYSE:FNF opened at $46.37 on Wednesday. Fidelity National Financial, Inc. has a 52 week low of $42.78 and a 52 week high of $66.72. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 0.58 and a beta of 0.99. The firm’s 50-day simple moving average is $51.55 and its 200 day simple moving average is $54.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.24 and a current ratio of 0.24.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Thursday, February 19th. The financial services provider reported $1.41 earnings per share (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 business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $1.34 EPS. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, March 17th. Fidelity National Financial’s payout ratio is 97.65%.

Insider Activity

In related news, Director Halim Dhanidina sold 6,000 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $55.90, for a total transaction of $335,400.00. Following the sale, the director owned 13,186 shares of the company’s stock, valued at $737,097.40. This represents a 31.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.50% of the company’s stock.

Fidelity National Financial Company 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.