Allstate Corp Makes New $589,000 Investment in Fidelity National Financial, Inc. $FNF

Allstate Corp acquired a new stake in Fidelity National Financial, Inc. (NYSE:FNF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,729 shares of the financial services provider’s stock, valued at approximately $589,000.

Other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Fidelity National Financial by 8.1% during the first quarter. Goldman Sachs Group Inc. now owns 629,616 shares of the financial services provider’s stock worth $40,975,000 after buying an additional 47,267 shares during the last quarter. Acadian Asset Management LLC lifted its position in Fidelity National Financial by 141.9% during the 1st quarter. Acadian Asset Management LLC now owns 14,478 shares of the financial services provider’s stock worth $941,000 after acquiring an additional 8,494 shares during the period. GAMMA Investing LLC grew its stake in shares of Fidelity National Financial by 12.8% in the 2nd quarter. GAMMA Investing LLC now owns 10,863 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 1,234 shares during the last quarter. Eastover Investment Advisors LLC grew its stake in shares of Fidelity National Financial by 0.6% in the 2nd quarter. Eastover Investment Advisors LLC now owns 124,219 shares of the financial services provider’s stock valued at $6,964,000 after purchasing an additional 686 shares during the last quarter. Finally, BayBridge Capital Group LLC increased its holdings in shares of Fidelity National Financial by 10.5% in the second quarter. BayBridge Capital Group LLC now owns 4,500 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 81.17% of the company’s stock.

Fidelity National Financial Stock Up 1.6%

FNF stock opened at $54.87 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $56.15 and its 200 day moving average price is $57.13. Fidelity National Financial, Inc. has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a market cap of $15.43 billion, a P/E ratio of 13.23 and a beta of 1.00.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Monday, November 10th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.20. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.57 billion. Fidelity National Financial had a net margin of 8.34% and a return on equity of 15.06%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. On average, research analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a dividend of $0.52 per share. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, December 17th. Fidelity National Financial’s payout ratio is presently 50.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FNF. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fidelity National Financial in a report on Monday, December 29th. Wall Street Zen upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Barclays lowered their target price on shares of Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 6th. Keefe, Bruyette & Woods increased their price target on shares of Fidelity National Financial from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Finally, Stephens assumed coverage on shares of Fidelity National Financial in a research report on Friday, November 14th. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

Insider Buying and Selling at Fidelity National Financial

In other news, Director Halim Dhanidina sold 6,000 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $55.90, for a total value of $335,400.00. Following the completion of the transaction, the director owned 13,186 shares in the company, valued at $737,097.40. This trade represents a 31.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel D. Lane sold 6,367 shares of Fidelity National Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $57.63, for a total value of $366,930.21. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.50% of the company’s stock.

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.