Korea Investment CORP reduced its position in Fidelity National Financial, Inc. (NYSE:FNF) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,455 shares of the financial services provider’s stock after selling 4,400 shares during the period. Korea Investment CORP owned about 0.06% of Fidelity National Financial worth $7,283,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. raised its holdings in Fidelity National Financial by 0.7% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 7,143 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 53 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Fidelity National Financial by 0.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,051 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 56 shares during the last quarter. TNB Financial raised its holdings in Fidelity National Financial by 1.0% in the 2nd quarter. TNB Financial now owns 5,608 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 58 shares during the last quarter. Bessemer Group Inc. raised its holdings in Fidelity National Financial by 0.3% in the 2nd quarter. Bessemer Group Inc. now owns 23,419 shares of the financial services provider’s stock worth $1,050,000 after acquiring an additional 67 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in Fidelity National Financial by 3.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,467 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 81.83% of the company’s stock.
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Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Fidelity National Financial had a net margin of 7.77% and a return on equity of 11.09%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.86%. Fidelity National Financial’s payout ratio is presently 55.79%.
In other Fidelity National Financial news, insider Brent B. Bickett sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $48.21, for a total transaction of $3,856,800.00. Following the completion of the transaction, the insider now owns 584,367 shares in the company, valued at approximately $28,172,333.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet Kerr sold 786 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $48.41, for a total transaction of $38,050.26. Following the transaction, the director now owns 11,817 shares of the company’s stock, valued at approximately $572,060.97. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
FNF has been the subject of a number of recent analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $48.00 price objective on shares of Fidelity National Financial in a report on Friday, July 14th. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Monday, July 24th. Finally, ValuEngine raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.17.
Fidelity National Financial Company Profile
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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