Bank of New York Mellon Corp Lowers Stock Holdings in Fidelity National Financial, Inc. (NYSE:FNF)

Bank of New York Mellon Corp reduced its position in Fidelity National Financial, Inc. (NYSE:FNF) by 1.5% in the 4th quarter, Holdings Channel reports. The fund owned 2,926,359 shares of the financial services provider’s stock after selling 43,709 shares during the period. Bank of New York Mellon Corp’s holdings in Fidelity National Financial were worth $164,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB grew its stake in Fidelity National Financial by 25.1% in the 3rd quarter. Swedbank AB now owns 42,375 shares of the financial services provider’s stock worth $2,630,000 after acquiring an additional 8,511 shares during the period. Everence Capital Management Inc. purchased a new stake in Fidelity National Financial in the 4th quarter worth approximately $621,000. Horizon Kinetics Asset Management LLC grew its stake in shares of Fidelity National Financial by 35.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 58,071 shares of the financial services provider’s stock valued at $3,604,000 after buying an additional 15,100 shares during the period. GAMMA Investing LLC grew its stake in shares of Fidelity National Financial by 19.8% during the 4th quarter. GAMMA Investing LLC now owns 7,458 shares of the financial services provider’s stock valued at $419,000 after buying an additional 1,233 shares during the period. Finally, Barclays PLC grew its stake in shares of Fidelity National Financial by 4.4% during the 3rd quarter. Barclays PLC now owns 216,755 shares of the financial services provider’s stock valued at $13,451,000 after buying an additional 9,146 shares during the period. 81.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Halim Dhanidina sold 2,800 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $54.85, for a total value of $153,580.00. Following the completion of the transaction, the director now directly owns 16,716 shares in the company, valued at approximately $916,872.60. This represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 2,092 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $56.33, for a total transaction of $117,842.36. Following the completion of the transaction, the director now owns 32,386 shares of the company’s stock, valued at $1,824,303.38. This trade represents a 6.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Fidelity National Financial Price Performance

FNF stock opened at $64.51 on Friday. The firm has a market cap of $17.65 billion, a P/E ratio of 13.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. Fidelity National Financial, Inc. has a 1 year low of $46.85 and a 1 year high of $64.83. The stock has a 50-day simple moving average of $57.75 and a 200-day simple moving average of $59.26.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Thursday, February 20th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.50 dividend. The ex-dividend date is Monday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 3.10%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 43.01%.

Analysts Set New Price Targets

Several analysts have recently issued reports on FNF shares. Barclays boosted their price objective on shares of Fidelity National Financial from $61.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $77.00 in a research note on Friday, January 3rd. Stephens boosted their price objective on shares of Fidelity National Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Truist Financial boosted their price objective on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.40.

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.