Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Fidelity National Financial, Inc. (NYSE:FNF) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 626,007 shares of the financial services provider’s stock after selling 62,752 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of Fidelity National Financial worth $30,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KBC Group NV increased its stake in shares of Fidelity National Financial by 845.5% in the fourth quarter. KBC Group NV now owns 631,801 shares of the financial services provider’s stock worth $32,234,000 after purchasing an additional 564,980 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Fidelity National Financial in the fourth quarter valued at about $1,669,000. BNP Paribas Financial Markets lifted its position in shares of Fidelity National Financial by 673.6% in the first quarter. BNP Paribas Financial Markets now owns 666,900 shares of the financial services provider’s stock valued at $35,412,000 after acquiring an additional 580,694 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Fidelity National Financial by 7.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 327,206 shares of the financial services provider’s stock worth $17,375,000 after acquiring an additional 23,358 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of Fidelity National Financial during the fourth quarter worth about $872,000. Institutional investors own 81.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FNF. Stephens reissued an “overweight” rating and issued a $63.00 price target on shares of Fidelity National Financial in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $53.00 target price on shares of Fidelity National Financial in a research note on Tuesday, August 6th. Truist Financial boosted their price target on shares of Fidelity National Financial from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.80.

Insider Buying and Selling at Fidelity National Financial

In related news, CFO Anthony Park sold 85,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by corporate insiders.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $57.43 on Tuesday. Fidelity National Financial, Inc. has a 52-week low of $37.10 and a 52-week high of $57.43. The company has a market cap of $15.69 billion, a price-to-earnings ratio of 18.89 and a beta of 1.35. The firm’s fifty day moving average is $52.02 and its 200 day moving average is $51.26. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, August 7th. The financial services provider reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.03). Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Fidelity National Financial, Inc. will post 4.58 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.34%. Fidelity National Financial’s dividend payout ratio is 63.16%.

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.