Summit Global Investments Invests $2.86 Million in Fidelity National Financial, Inc. (NYSE:FNF)

Summit Global Investments bought a new stake in Fidelity National Financial, Inc. (NYSE:FNF) in the 4th quarter, HoldingsChannel.com reports. The firm bought 50,920 shares of the financial services provider’s stock, valued at approximately $2,859,000.

Other hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Fidelity National Financial in the third quarter worth about $897,000. Commerce Bank boosted its position in Fidelity National Financial by 3.5% during the third quarter. Commerce Bank now owns 5,991 shares of the financial services provider’s stock worth $372,000 after purchasing an additional 200 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Fidelity National Financial by 5.7% in the third quarter. Advisors Asset Management Inc. now owns 43,092 shares of the financial services provider’s stock valued at $2,674,000 after purchasing an additional 2,341 shares during the period. First Horizon Advisors Inc. increased its position in shares of Fidelity National Financial by 32.6% in the third quarter. First Horizon Advisors Inc. now owns 878 shares of the financial services provider’s stock valued at $55,000 after buying an additional 216 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $498,041,000 after buying an additional 289,962 shares during the period. 81.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fidelity National Financial

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

Wall Street Analysts Forecast Growth

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

Fidelity National Financial Stock Down 1.0 %

Shares of NYSE FNF opened at $63.49 on Friday. The stock has a market cap of $17.46 billion, a PE ratio of 13.65 and a beta of 1.32. 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 $46.85 and a 12-month high of $65.65. The company has a 50-day moving average of $59.91 and a 200 day moving average of $59.86.

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

Fidelity National Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, March 17th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 43.01%.

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.