M&T Bank Corp Grows Position in Fidelity National Financial, Inc. (NYSE:FNF)

M&T Bank Corp lifted its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,703 shares of the financial services provider’s stock after purchasing an additional 2,345 shares during the quarter. M&T Bank Corp’s holdings in Fidelity National Financial were worth $1,724,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Fidelity National Financial

In related news, Director Halim Dhanidina sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $54.85, for a total transaction of $153,580.00. Following the completion of the transaction, the director now owns 16,716 shares in the company, valued at $916,872.60. This represents a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra Douglass Morgan sold 2,092 shares of Fidelity National Financial 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 sale, the director now owns 32,386 shares in the company, valued at approximately $1,824,303.38. This trade represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FNF shares. Stephens upped their price objective on Fidelity National Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Truist Financial upped their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $77.00 in a research note on Friday, January 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Finally, StockNews.com lowered shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Fidelity National Financial currently has a consensus rating of “Moderate Buy” and an average price target of $70.40.

Fidelity National Financial Stock Performance

NYSE:FNF opened at $62.97 on Monday. 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 fifty-two week low of $46.85 and a fifty-two week high of $65.65. The business has a 50 day moving average price of $58.42 and a 200-day moving average price of $59.54. The firm has a market cap of $17.32 billion, a PE ratio of 13.54 and a beta of 1.32.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Thursday, February 20th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.33 billion. Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. During the same quarter last year, the firm earned $0.75 EPS. Equities research analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 3.18%. Fidelity National Financial’s dividend payout ratio is presently 43.01%.

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.