Fidelity National Financial, Inc. (NYSE:FNF) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,200 shares of the financial services provider’s stock after buying an additional 1,500 shares during the period. State of Michigan Retirement System’s holdings in Fidelity National Financial were worth $3,568,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FNF. Nomura Asset Management Co. Ltd. raised its position in shares of Fidelity National Financial by 0.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 66,445 shares of the financial services provider’s stock valued at $3,390,000 after acquiring an additional 196 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Fidelity National Financial by 10.6% in the 1st quarter. GAMMA Investing LLC now owns 2,155 shares of the financial services provider’s stock worth $114,000 after buying an additional 207 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Fidelity National Financial by 7.6% in the 4th quarter. Global Retirement Partners LLC now owns 3,012 shares of the financial services provider’s stock worth $147,000 after buying an additional 212 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in shares of Fidelity National Financial by 0.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 77,198 shares of the financial services provider’s stock valued at $3,940,000 after buying an additional 255 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Fidelity National Financial by 1.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,046 shares of the financial services provider’s stock valued at $819,000 after buying an additional 271 shares during the last quarter. 81.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on FNF shares. Barclays lifted their target price on Fidelity National Financial from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Stephens upped their price objective on Fidelity National Financial from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, Keefe, Bruyette & Woods cut their target price on Fidelity National Financial from $55.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.40.

Fidelity National Financial Stock Up 1.6 %

Shares of Fidelity National Financial stock opened at $49.37 on Wednesday. Fidelity National Financial, Inc. has a 1-year low of $34.96 and a 1-year high of $53.96. The company has a market capitalization of $13.49 billion, a P/E ratio of 16.24 and a beta of 1.35. The business’s fifty day moving average price is $50.34 and its two-hundred day moving average price is $50.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.21 and a quick ratio of 0.21.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.08). The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $2.72 billion. Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. Fidelity National Financial’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, research analysts forecast that Fidelity National Financial, Inc. will post 4.67 EPS for the current year.

Fidelity National Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.92 annualized dividend and a yield of 3.89%. Fidelity National Financial’s payout ratio is 63.16%.

Insiders Place Their Bets

In other news, CFO Anthony Park sold 85,000 shares of Fidelity National Financial stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.82, for a total transaction of $4,319,700.00. Following the transaction, the chief financial officer now directly owns 99,049 shares in the company, valued at approximately $5,033,670.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Anthony Park sold 85,000 shares of Fidelity National Financial stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $50.82, for a total value of $4,319,700.00. Following the transaction, the chief financial officer now owns 99,049 shares of the company’s stock, valued at approximately $5,033,670.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Halim Dhanidina sold 3,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $50.64, for a total transaction of $151,920.00. Following the sale, the director now directly owns 14,906 shares of the company’s stock, valued at $754,839.84. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Fidelity National Financial Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.