Verition Fund Management LLC Cuts Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

Verition Fund Management LLC lessened its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 57.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,591 shares of the financial services provider’s stock after selling 11,746 shares during the period. Verition Fund Management LLC’s holdings in Fidelity National Financial were worth $533,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in Fidelity National Financial by 8.5% during the second quarter. Victory Capital Management Inc. now owns 8,181,554 shares of the financial services provider’s stock valued at $404,332,000 after acquiring an additional 640,829 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fidelity National Financial by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,025,159 shares of the financial services provider’s stock valued at $498,041,000 after purchasing an additional 289,962 shares during the last quarter. Cooke & Bieler LP raised its position in Fidelity National Financial by 3.2% in the 2nd quarter. Cooke & Bieler LP now owns 5,937,596 shares of the financial services provider’s stock worth $293,436,000 after purchasing an additional 184,078 shares during the period. Dimensional Fund Advisors LP lifted its stake in Fidelity National Financial by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,428,258 shares of the financial services provider’s stock worth $169,421,000 after purchasing an additional 77,118 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of Fidelity National Financial by 0.4% during the third quarter. AustralianSuper Pty Ltd now owns 1,833,765 shares of the financial services provider’s stock valued at $113,803,000 after buying an additional 6,976 shares during the period. Institutional investors own 81.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FNF. Truist Financial raised their price target on Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stephens reissued an “overweight” rating and set a $63.00 target price on shares of Fidelity National Financial in a research note on Thursday, August 15th. Barclays raised their price target on shares of Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Fidelity National Financial from $63.00 to $64.00 and gave the stock a “market perform” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.80.

Fidelity National Financial Stock Down 0.3 %

Shares of NYSE FNF opened at $60.03 on Thursday. The stock has a market capitalization of $16.43 billion, a PE ratio of 21.83 and a beta of 1.36. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. Fidelity National Financial, Inc. has a 12-month low of $46.55 and a 12-month high of $64.83. The stock’s fifty day simple moving average is $61.06 and its two-hundred day simple moving average is $56.70.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). Fidelity National Financial had a return on equity of 13.72% and a net margin of 5.57%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the firm earned $1.23 EPS. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. As a group, analysts expect that Fidelity National Financial, Inc. will post 4.55 EPS for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, December 17th. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s dividend payout ratio is currently 69.82%.

Insider Transactions at Fidelity National Financial

In other Fidelity National Financial news, Director Halim Dhanidina sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total transaction of $103,445.00. Following the transaction, the director now owns 13,206 shares in the company, valued at approximately $803,585.10. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

About Fidelity National Financial

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.