Confluence Investment Management LLC Trims Stake in Fidelity National Financial, Inc. (NYSE:FNF)

Confluence Investment Management LLC lessened its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,282,039 shares of the financial services provider’s stock after selling 50,526 shares during the quarter. Fidelity National Financial comprises 1.8% of Confluence Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. Confluence Investment Management LLC owned about 0.83% of Fidelity National Financial worth $128,114,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Fidelity National Financial by 31.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,456 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 1,294 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Fidelity National Financial during the 2nd quarter worth $35,000. Concurrent Investment Advisors LLC acquired a new position in Fidelity National Financial in the second quarter valued at $210,000. CIBC Asset Management Inc raised its holdings in shares of Fidelity National Financial by 3.0% in the second quarter. CIBC Asset Management Inc now owns 15,523 shares of the financial services provider’s stock valued at $767,000 after buying an additional 454 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in shares of Fidelity National Financial during the second quarter worth about $515,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial boosted their price target on Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods boosted their target price on Fidelity National Financial from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Tuesday, December 10th. Finally, Barclays upped their price target on Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.80.

Insider Activity

In other news, Director Sandra Douglass Morgan sold 2,092 shares of the business’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 transaction of $117,842.36. Following the sale, the director now owns 32,386 shares of the company’s stock, valued at $1,824,303.38. The trade was a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.20% of the company’s stock.

Fidelity National Financial Stock Performance

FNF traded up $0.12 during trading on Thursday, reaching $56.26. The company’s stock had a trading volume of 106,636 shares, compared to its average volume of 1,186,139. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. The company’s fifty day moving average price is $59.92 and its 200-day moving average price is $57.49. Fidelity National Financial, Inc. has a 52-week low of $46.85 and a 52-week high of $64.83. The company has a market capitalization of $15.39 billion, a price-to-earnings ratio of 20.46 and a beta of 1.36.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.11). The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.32 billion. Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. On average, equities analysts forecast that Fidelity National Financial, Inc. will post 4.57 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 17th. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.55%. Fidelity National Financial’s dividend payout ratio is 72.73%.

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.