United Fire Group Inc. continued to hold its position in Fidelity National Financial, Inc. (NYSE:FNF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,201 shares of the financial services provider’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Fidelity National Financial were worth $995,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNF. Korea Investment CORP raised its position in Fidelity National Financial by 116.7% in the first quarter. Korea Investment CORP now owns 133,700 shares of the financial services provider’s stock valued at $5,206,000 after buying an additional 72,000 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in Fidelity National Financial during the first quarter valued at about $18,238,000. Mn Services Vermogensbeheer B.V. raised its position in Fidelity National Financial by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,527 shares of the financial services provider’s stock valued at $238,000 after buying an additional 292 shares during the last quarter. Loeb Partners Corp purchased a new position in Fidelity National Financial during the first quarter valued at about $448,000. Finally, Candriam Luxembourg S.C.A. raised its position in Fidelity National Financial by 29.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 17,258 shares of the financial services provider’s stock valued at $672,000 after buying an additional 3,956 shares during the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.
Fidelity National Financial, Inc. (NYSE:FNF) opened at 47.38 on Friday. The firm’s 50-day moving average is $46.23 and its 200 day moving average is $41.07. Fidelity National Financial, Inc. has a 12-month low of $31.64 and a 12-month high of $49.37. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 20.66 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.14 billion. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts expect that Fidelity National Financial, Inc. will post $2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, September 14th. Fidelity National Financial’s payout ratio is 43.67%.
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Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, July 24th. Piper Jaffray Companies restated a “buy” rating and set a $48.00 price target on shares of Fidelity National Financial in a report on Friday, July 14th. Finally, Barclays PLC raised their price target on shares of Fidelity National Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $46.60.
In related news, CFO Anthony Park sold 138,941 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $41.28, for a total value of $5,735,484.48. Following the completion of the sale, the chief financial officer now owns 228,280 shares of the company’s stock, valued at $9,423,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter T. Sadowski sold 133,215 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $47.53, for a total value of $6,331,708.95. Following the completion of the sale, the executive vice president now directly owns 89,575 shares of the company’s stock, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. Insiders sold 411,800 shares of company stock valued at $18,218,120 in the last ninety days. 5.00% of the stock is currently owned by insiders.
About Fidelity National Financial
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.
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