Swiss National Bank Buys 48,300 Shares of Fidelity National Financial, Inc. $FNF

Swiss National Bank boosted its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 755,900 shares of the financial services provider’s stock after purchasing an additional 48,300 shares during the period. Swiss National Bank owned about 0.28% of Fidelity National Financial worth $35,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FNF. Canton Hathaway LLC bought a new position in shares of Fidelity National Financial in the fourth quarter worth approximately $26,000. Commonwealth Retirement Investments LLC bought a new stake in Fidelity National Financial in the 4th quarter worth $28,000. Headlands Technologies LLC purchased a new position in shares of Fidelity National Financial in the second quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Fidelity National Financial by 57.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 353 shares during the period. Finally, Torren Management LLC bought a new position in shares of Fidelity National Financial during the fourth quarter valued at about $57,000. Institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Trading Down 3.4%

Shares of FNF opened at $48.52 on Friday. Fidelity National Financial, Inc. has a 1-year low of $42.78 and a 1-year high of $61.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $48.28 and its 200-day moving average price is $50.07. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 0.75 and a beta of 0.96.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the company earned $0.78 earnings per share. Fidelity National Financial’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts anticipate that Fidelity National Financial, Inc. will post 5.14 EPS for the current year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Fidelity National Financial’s dividend payout ratio is 75.91%.

Analysts Set New Price Targets

FNF has been the subject of a number of analyst reports. Zacks Research lowered shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Stephens lowered their price target on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods dropped their price objective on Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. National Bank Financial set a $51.00 price objective on Fidelity National Financial in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Fidelity National Financial has an average rating of “Hold” and an average price target of $56.00.

Insider Activity

In other news, EVP Peter T. Sadowski sold 69,196 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the transaction, the executive vice president owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. This represents a 92.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.70% of the company’s stock.

Fidelity National Financial Company Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.