PNC Financial Services Group Inc. Sells 18,594 Shares of Fidelity National Financial, Inc. $FNF

PNC Financial Services Group Inc. cut its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413,623 shares of the financial services provider’s stock after selling 18,594 shares during the period. PNC Financial Services Group Inc. owned approximately 0.15% of Fidelity National Financial worth $19,184,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Fidelity National Financial during the 4th quarter valued at about $3,585,000. Sound Income Strategies LLC boosted its stake in shares of Fidelity National Financial by 342,784.1% during the 4th quarter. Sound Income Strategies LLC now owns 150,869 shares of the financial services provider’s stock worth $7,976,000 after acquiring an additional 150,825 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Fidelity National Financial during the 4th quarter worth $1,439,000. UBS Group AG grew its position in shares of Fidelity National Financial by 8.9% during the 4th quarter. UBS Group AG now owns 1,664,396 shares of the financial services provider’s stock valued at $90,859,000 after acquiring an additional 136,268 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in Fidelity National Financial during the fourth quarter valued at about $36,362,000. 81.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Peter T. Sadowski sold 69,196 shares of the firm’s 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 sale, the executive vice president directly owned 5,702 shares of the company’s stock, valued at $260,581.40. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FNF shares. Stephens cut their price objective on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. National Bank Financial set a $51.00 target price on shares of Fidelity National Financial in a report on Tuesday, July 7th. Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods dropped their price target on Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Two 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, Fidelity National Financial has an average rating of “Hold” and an average target price of $56.00.

Fidelity National Financial Trading Up 6.2%

Shares of FNF opened at $51.64 on Friday. The company’s fifty day moving average is $48.36 and its 200 day moving average is $50.08. Fidelity National Financial, Inc. has a fifty-two week low of $42.78 and a fifty-two week high of $61.40. The stock has a market capitalization of $13.90 billion, a PE ratio of 18.87, a P/E/G ratio of 0.73 and a beta of 0.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25.

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

Fidelity National Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given 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 yield of 4.0%. Fidelity National Financial’s dividend payout ratio is 75.91%.

Fidelity National Financial 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.