Penbrook Management LLC Decreases Stock Position in Fidelity National Financial Inc (NYSE:FNF)

Penbrook Management LLC decreased its stake in Fidelity National Financial Inc (NYSE:FNF) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,579 shares of the financial services provider’s stock after selling 474 shares during the period. Fidelity National Financial comprises about 2.2% of Penbrook Management LLC’s investment portfolio, making the stock its 6th biggest position. Penbrook Management LLC’s holdings in Fidelity National Financial were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Fidelity National Financial by 16.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,468 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 1,905 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Fidelity National Financial by 11.7% in the 1st quarter. First Trust Advisors LP now owns 1,595,617 shares of the financial services provider’s stock valued at $58,320,000 after purchasing an additional 167,118 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Fidelity National Financial by 25.8% in the 1st quarter. State of Wisconsin Investment Board now owns 229,263 shares of the financial services provider’s stock valued at $8,380,000 after purchasing an additional 47,090 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Fidelity National Financial by 39.6% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 17,978 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co purchased a new stake in shares of Fidelity National Financial in the 1st quarter valued at $211,000. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FNF opened at $45.09 on Friday. The stock has a market capitalization of $12.18 billion, a P/E ratio of 16.70 and a beta of 0.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $44.11 and a two-hundred day simple moving average of $41.25. Fidelity National Financial Inc has a twelve month low of $29.50 and a twelve month high of $45.40.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. Sell-side analysts expect that Fidelity National Financial Inc will post 2.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.31 per share. The ex-dividend date was Friday, September 13th. This represents a $1.24 annualized dividend and a yield of 2.75%. Fidelity National Financial’s payout ratio is currently 45.93%.

In other Fidelity National Financial news, CFO Anthony Park sold 97,323 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $43.17, for a total value of $4,201,433.91. Following the completion of the transaction, the chief financial officer now directly owns 283,475 shares in the company, valued at approximately $12,237,615.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Raymond R. Quirk sold 120,578 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $43.14, for a total transaction of $5,201,734.92. Following the completion of the transaction, the chief executive officer now owns 441,865 shares of the company’s stock, valued at $19,062,056.10. The disclosure for this sale can be found here. Insiders have sold a total of 648,213 shares of company stock valued at $28,390,825 in the last three months. 6.20% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on FNF. Keefe, Bruyette & Woods cut shares of Fidelity National Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $49.00 to $48.00 in a research note on Wednesday. ValuEngine cut shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research note on Friday. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday. Compass Point raised shares of Fidelity National Financial from a “neutral” rating to a “buy” rating in a research note on Monday, July 8th. Finally, Susquehanna Bancshares began coverage on shares of Fidelity National Financial in a research note on Wednesday, June 19th. They issued a “positive” rating and a $48.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.54.

About Fidelity National Financial

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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Institutional Ownership by Quarter for Fidelity National Financial (NYSE:FNF)

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