D. E. Shaw & Co. Inc. lessened its holdings in shares of Fidelity National Financial Inc (NYSE:FNF) by 36.4% in the second quarter, HoldingsChannel.com reports. The firm owned 900,643 shares of the financial services provider’s stock after selling 515,005 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Fidelity National Financial were worth $36,296,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in FNF. Penserra Capital Management LLC bought a new stake in Fidelity National Financial during the 1st quarter valued at $26,000. Rockefeller Capital Management L.P. increased its stake in Fidelity National Financial by 1,534.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 752 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 706 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in Fidelity National Financial during the 1st quarter valued at $42,000. Cutler Group LP increased its stake in Fidelity National Financial by 1,000.0% during the 2nd quarter. Cutler Group LP now owns 1,100 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in Fidelity National Financial during the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 82.54% of the company’s stock.
FNF traded down $0.37 during mid-day trading on Friday, reaching $43.32. 1,677,184 shares of the stock were exchanged, compared to its average volume of 1,098,744. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $11.99 billion, a PE ratio of 16.04 and a beta of 0.84. The company has a 50 day moving average price of $43.83 and a two-hundred day moving average price of $40.30. Fidelity National Financial Inc has a 1 year low of $29.50 and a 1 year high of $45.40.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. Sell-side analysts expect that Fidelity National Financial Inc will post 2.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, September 13th. Fidelity National Financial’s dividend payout ratio is 45.93%.
A number of analysts have commented on the stock. Susquehanna Bancshares started coverage on shares of Fidelity National Financial in a research note on Wednesday, June 19th. They set a “positive” rating and a $48.00 price target for the company. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, September 9th. Compass Point raised shares of Fidelity National Financial from a “neutral” rating to a “buy” rating in a report on Monday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.54.
In related news, CEO Raymond R. Quirk sold 120,578 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $43.14, for a total value of $5,201,734.92. Following the transaction, the chief executive officer now directly owns 441,865 shares of the company’s stock, valued at approximately $19,062,056.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Michael Joseph Nolan sold 75,884 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.09, for a total transaction of $3,345,725.56. Following the completion of the transaction, the president now directly owns 289,669 shares in the company, valued at $12,771,506.21. The disclosure for this sale can be found here. Insiders have sold a total of 535,876 shares of company stock worth $23,422,378 over the last ninety days. Insiders own 6.20% of the company’s stock.
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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