DAVENPORT & Co LLC Lowers Stock Position in Fidelity National Financial, Inc. $FNF

DAVENPORT & Co LLC cut its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 3.7% in the third quarter, HoldingsChannel reports. The fund owned 1,354,146 shares of the financial services provider’s stock after selling 52,417 shares during the period. DAVENPORT & Co LLC’s holdings in Fidelity National Financial were worth $81,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNF. HBK Sorce Advisory LLC purchased a new position in Fidelity National Financial during the third quarter valued at approximately $327,000. Exchange Traded Concepts LLC increased its stake in shares of Fidelity National Financial by 76.5% in the third quarter. Exchange Traded Concepts LLC now owns 50,223 shares of the financial services provider’s stock worth $3,038,000 after purchasing an additional 21,770 shares in the last quarter. Brighton Jones LLC raised its position in shares of Fidelity National Financial by 92.0% during the 3rd quarter. Brighton Jones LLC now owns 19,103 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 9,154 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of Fidelity National Financial by 8.3% during the 3rd quarter. Flputnam Investment Management Co. now owns 5,649 shares of the financial services provider’s stock valued at $342,000 after buying an additional 433 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new position in Fidelity National Financial in the 3rd quarter worth $393,000. Institutional investors own 81.17% of the company’s stock.

Analyst Ratings Changes

FNF has been the subject of a number of analyst reports. Wall Street Zen upgraded Fidelity National Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fidelity National Financial in a research note on Monday, December 15th. Barclays reissued a “cautious” rating on shares of Fidelity National Financial in a research note on Monday, October 6th. Stephens began coverage on Fidelity National Financial in a research note on Friday, November 14th. They issued an “overweight” rating for the company. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fidelity National Financial from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Fidelity National Financial has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Insider Buying and Selling

In other Fidelity National Financial news, Director Daniel D. Lane sold 6,367 shares of Fidelity National Financial stock in a transaction on Monday, November 17th. The shares were sold at an average price of $57.63, for a total value of $366,930.21. Following the completion of the transaction, the director directly owned 276,308 shares of the company’s stock, valued at $15,923,630.04. This trade represents a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is owned by company insiders.

Fidelity National Financial Price Performance

Shares of Fidelity National Financial stock opened at $54.72 on Wednesday. The firm has a market cap of $15.38 billion, a PE ratio of 13.20 and a beta of 1.01. The stock has a 50 day moving average of $57.06 and a 200 day moving average of $57.38. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.47. Fidelity National Financial, Inc. has a 12 month low of $50.61 and a 12 month high of $66.72.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. The business had revenue of $3.17 billion for the quarter. Fidelity National Financial had a return on equity of 15.06% and a net margin of 8.34%. On average, research analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, December 17th. Fidelity National Financial’s dividend payout ratio (DPR) is 50.12%.

Fidelity National Financial Company Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.