Wedge Capital Management L L P NC Has $128.91 Million Position in Fidelity National Financial, Inc. (NYSE:FNF)

Wedge Capital Management L L P NC reduced its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 2,875,592 shares of the financial services provider’s stock after selling 143,940 shares during the period. Fidelity National Financial makes up about 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 13th largest position. Wedge Capital Management L L P NC’s holdings in Fidelity National Financial were worth $128,913,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FNF. Vanguard Group Inc. boosted its position in Fidelity National Financial by 4.3% in the first quarter. Vanguard Group Inc. now owns 21,623,652 shares of the financial services provider’s stock worth $842,024,000 after buying an additional 884,191 shares during the last quarter. BlackRock Inc. boosted its position in Fidelity National Financial by 4,066.1% in the first quarter. BlackRock Inc. now owns 14,703,507 shares of the financial services provider’s stock worth $572,554,000 after buying an additional 14,350,573 shares during the last quarter. Harris Associates L P boosted its position in Fidelity National Financial by 1.4% in the first quarter. Harris Associates L P now owns 13,306,977 shares of the financial services provider’s stock worth $518,174,000 after buying an additional 181,700 shares during the last quarter. Principal Financial Group Inc. boosted its position in Fidelity National Financial by 4.6% in the first quarter. Principal Financial Group Inc. now owns 10,770,070 shares of the financial services provider’s stock worth $419,387,000 after buying an additional 471,866 shares during the last quarter. Finally, Edge Asset Management Inc. boosted its position in Fidelity National Financial by 0.8% in the first quarter. Edge Asset Management Inc. now owns 7,519,623 shares of the financial services provider’s stock worth $292,814,000 after buying an additional 59,689 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 stock has a market cap of $12.93 billion, a PE ratio of 20.66 and a beta of 0.95. Fidelity National Financial, Inc. has a 12 month low of $31.64 and a 12 month high of $49.37. The company’s 50 day moving average is $46.23 and its 200 day moving average is $41.07.

Fidelity National Financial (NYSE:FNF) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.14 billion. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.41%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, analysts anticipate that Fidelity National Financial, Inc. will post $2.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is 43.67%.

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A number of equities analysts have issued reports on FNF shares. Zacks Investment Research cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Piper Jaffray Companies restated a “buy” rating and issued a $48.00 price objective on shares of Fidelity National Financial in a research report on Friday, July 14th. Barclays PLC boosted their price objective on shares of Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Finally, Monness Crespi & Hardt boosted their price objective on shares of Fidelity National Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, May 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.60.

In other news, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $47.53, for a total value of $6,331,708.95. Following the transaction, the executive vice president now owns 89,575 shares of the company’s stock, valued at approximately $4,257,499.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brent B. Bickett sold 58,896 shares of Fidelity National Financial stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $44.77, for a total transaction of $2,636,773.92. Following the completion of the transaction, the insider now directly owns 562,658 shares in the company, valued at approximately $25,190,198.66. The disclosure for this sale can be found here. Insiders have sold a total of 411,800 shares of company stock worth $18,218,120 in the last three months. Insiders own 5.00% of the company’s stock.

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

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