Eaton Vance Management lifted its stake in Fidelity National Financial Inc (NYSE:FNF) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,135 shares of the financial services provider’s stock after buying an additional 12,640 shares during the period. Eaton Vance Management’s holdings in Fidelity National Financial were worth $4,176,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in FNF. Alliancebernstein L.P. increased its holdings in Fidelity National Financial by 26.5% during the 3rd quarter. Alliancebernstein L.P. now owns 11,670,565 shares of the financial services provider’s stock valued at $459,237,000 after purchasing an additional 2,446,019 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Fidelity National Financial by 77.3% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,448,841 shares of the financial services provider’s stock valued at $96,361,000 after purchasing an additional 1,067,814 shares in the last quarter. BlackRock Inc. increased its holdings in Fidelity National Financial by 5.0% during the 3rd quarter. BlackRock Inc. now owns 15,587,711 shares of the financial services provider’s stock valued at $613,376,000 after purchasing an additional 735,784 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Fidelity National Financial by 95.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 953,925 shares of the financial services provider’s stock valued at $37,537,000 after purchasing an additional 466,450 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Fidelity National Financial by 8.1% during the 3rd quarter. Victory Capital Management Inc. now owns 5,179,205 shares of the financial services provider’s stock valued at $203,802,000 after purchasing an additional 386,753 shares in the last quarter. 82.60% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on FNF shares. ValuEngine raised Fidelity National Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Barclays set a $43.00 price target on Fidelity National Financial and gave the company a “buy” rating in a report on Friday, October 26th. Finally, Zacks Investment Research cut Fidelity National Financial from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.40.
FNF stock opened at $32.49 on Friday. Fidelity National Financial Inc has a fifty-two week low of $31.14 and a fifty-two week high of $42.52. The firm has a market cap of $9.12 billion, a P/E ratio of 12.45 and a beta of 0.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.01). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.04 billion. Fidelity National Financial had a net margin of 10.54% and a return on equity of 16.32%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, equities research analysts expect that Fidelity National Financial Inc will post 2.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. Fidelity National Financial’s payout ratio is 52.86%.
In other news, Director John D. Rood acquired 31,200 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $32.51 per share, for a total transaction of $1,014,312.00. Following the transaction, the director now owns 43,681 shares of the company’s stock, valued at $1,420,069.31. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.
Fidelity National Financial 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.
See Also: Cost of Equity For A Business, Investors
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