Point72 Asset Management L.P. Acquires New Position in Fidelity National Financial, Inc. (NYSE:FNF)

Point72 Asset Management L.P. acquired a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) during the 3rd quarter, Holdings Channel reports. The fund acquired 184,801 shares of the financial services provider’s stock, valued at approximately $11,469,000.

Several other institutional investors also recently bought and sold shares of FNF. TPG GP A LLC purchased a new stake in Fidelity National Financial during the 2nd quarter valued at about $83,798,000. Victory Capital Management Inc. grew its position in Fidelity National Financial by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 8,181,554 shares of the financial services provider’s stock valued at $404,332,000 after purchasing an additional 640,829 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Fidelity National Financial by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,025,159 shares of the financial services provider’s stock valued at $498,041,000 after purchasing an additional 289,962 shares during the last quarter. Cooke & Bieler LP grew its position in Fidelity National Financial by 3.2% during the 2nd quarter. Cooke & Bieler LP now owns 5,937,596 shares of the financial services provider’s stock valued at $293,436,000 after purchasing an additional 184,078 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Fidelity National Financial during the 3rd quarter valued at about $11,100,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fidelity National Financial news, Director Halim Dhanidina sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total transaction of $103,445.00. Following the sale, the director now owns 13,206 shares in the company, valued at approximately $803,585.10. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods raised their price target on shares of Fidelity National Financial from $58.00 to $63.00 and gave the company a “market perform” rating in a report on Wednesday, September 4th. Barclays raised their price target on shares of Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $63.00 price target on shares of Fidelity National Financial in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Fidelity National Financial currently has an average rating of “Hold” and an average target price of $63.60.

Fidelity National Financial Stock Performance

FNF opened at $62.01 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 22.55 and a beta of 1.36. The company’s 50 day moving average is $61.09 and its 200 day moving average is $56.52. Fidelity National Financial, Inc. has a 12-month low of $46.35 and a 12-month high of $64.83.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Fidelity National Financial had a return on equity of 13.72% and a net margin of 5.57%. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. On average, equities research analysts predict that Fidelity National Financial, Inc. will post 4.54 EPS for the current year.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.50 dividend. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, December 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.23%. Fidelity National Financial’s dividend payout ratio (DPR) is presently 69.82%.

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.