Confluence Investment Management LLC Trims Stake in Fidelity National Financial Inc (FNF)

Confluence Investment Management LLC trimmed its holdings in shares of Fidelity National Financial Inc (NYSE:FNF) by 1.2% in the first quarter, HoldingsChannel reports. The firm owned 2,420,487 shares of the financial services provider’s stock after selling 28,715 shares during the period. Fidelity National Financial makes up about 1.5% of Confluence Investment Management LLC’s portfolio, making the stock its 27th biggest holding. Confluence Investment Management LLC’s holdings in Fidelity National Financial were worth $88,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FNF. Norges Bank purchased a new position in shares of Fidelity National Financial during the 4th quarter worth approximately $116,541,000. FMR LLC increased its stake in shares of Fidelity National Financial by 14.9% during the 4th quarter. FMR LLC now owns 12,842,297 shares of the financial services provider’s stock worth $403,763,000 after purchasing an additional 1,665,150 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Fidelity National Financial by 225.0% during the 3rd quarter. Marshall Wace LLP now owns 951,156 shares of the financial services provider’s stock worth $37,428,000 after purchasing an additional 658,528 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Fidelity National Financial by 35.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,064,722 shares of the financial services provider’s stock worth $64,914,000 after purchasing an additional 543,821 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Fidelity National Financial by 3.2% during the 4th quarter. BlackRock Inc. now owns 16,085,953 shares of the financial services provider’s stock worth $505,740,000 after purchasing an additional 498,242 shares in the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on FNF. ValuEngine raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Barclays reissued a “buy” rating and set a $42.00 price objective on shares of Fidelity National Financial in a research note on Friday, February 15th. Compass Point began coverage on shares of Fidelity National Financial in a research note on Thursday, January 24th. They set a “buy” rating and a $43.25 price objective for the company. Zacks Investment Research raised shares of Fidelity National Financial from a “sell” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, January 15th. Finally, Piper Jaffray Companies raised their price objective on shares of Fidelity National Financial from $44.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.25.

FNF stock traded up $0.14 during midday trading on Tuesday, hitting $38.99. The stock had a trading volume of 33,644 shares, compared to its average volume of 1,322,471. The stock has a market capitalization of $10.68 billion, a P/E ratio of 14.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 0.84. Fidelity National Financial Inc has a 12-month low of $29.50 and a 12-month high of $41.41.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, February 13th. The financial services provider reported $0.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.05). The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Fidelity National Financial had a return on equity of 16.28% and a net margin of 8.27%. The firm’s revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts forecast that Fidelity National Financial Inc will post 2.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.31 dividend. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 3.18%. The ex-dividend date was Thursday, March 14th. Fidelity National Financial’s payout ratio is presently 45.93%.

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Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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

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