Summit Global Investments Acquires Shares of 50,920 Fidelity National Financial, Inc. (NYSE:FNF)

Summit Global Investments bought a new position in Fidelity National Financial, Inc. (NYSE:FNF) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 50,920 shares of the financial services provider’s stock, valued at approximately $2,859,000.

Other large investors have also recently modified their holdings of the company. Commerce Bank boosted its stake 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 buying an additional 200 shares during the period. Chesley Taft & Associates LLC boosted its stake in shares of Fidelity National Financial by 1.2% during the 4th quarter. Chesley Taft & Associates LLC now owns 16,686 shares of the financial services provider’s stock worth $937,000 after purchasing an additional 200 shares during the period. Louisiana State Employees Retirement System grew its holdings in Fidelity National Financial by 0.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 72,200 shares of the financial services provider’s stock valued at $4,053,000 after purchasing an additional 200 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Fidelity National Financial by 50.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 622 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 209 shares during the period. Finally, Essex Financial Services Inc. lifted its stake in Fidelity National Financial by 5.3% in the fourth quarter. Essex Financial Services Inc. now owns 4,206 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.

Insider Buying and Selling at Fidelity National Financial

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

Fidelity National Financial Stock Performance

FNF stock opened at $63.49 on Friday. Fidelity National Financial, Inc. has a 1-year low of $46.85 and a 1-year high of $65.65. The business has a 50-day moving average price of $59.91 and a 200 day moving average price of $59.86. The company has a market capitalization of $17.46 billion, a P/E ratio of 13.65 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.24 and a quick ratio of 0.24.

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

Fidelity National Financial Announces Dividend

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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $2.00 annualized dividend and a yield of 3.15%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analysts Forecast Growth

FNF has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Fidelity National Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $76.00 to $77.00 in a research note on Friday, January 3rd. StockNews.com lowered Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods lowered their target price on shares of Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Stephens raised their price target on shares of Fidelity National Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Barclays boosted their price objective on shares of Fidelity National Financial from $61.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.40.

Fidelity National Financial Company 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.