Fidelity National Financial, Inc. $FNF Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 2,529,383 shares of the financial services provider’s stock after buying an additional 13,147 shares during the period. Bank of New York Mellon Corp’s holdings in Fidelity National Financial were worth $117,313,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FNF. Illinois Municipal Retirement Fund lifted its position in Fidelity National Financial by 13.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 72,139 shares of the financial services provider’s stock worth $3,346,000 after acquiring an additional 8,670 shares during the period. Calamos Wealth Management LLC acquired a new stake in Fidelity National Financial in the first quarter valued at about $300,000. Calamos Advisors LLC purchased a new stake in shares of Fidelity National Financial in the first quarter valued at approximately $300,000. Bleakley Financial Group LLC raised its position in Fidelity National Financial by 1.9% in the first quarter. Bleakley Financial Group LLC now owns 130,264 shares of the financial services provider’s stock worth $6,042,000 after acquiring an additional 2,480 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Fidelity National Financial by 1.9% in the first quarter. State of Michigan Retirement System now owns 65,300 shares of the financial services provider’s stock valued at $3,029,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Insider Activity at Fidelity National Financial

In related news, EVP Peter T. Sadowski sold 69,196 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the transaction, the executive vice president owned 5,702 shares in the company, valued at approximately $260,581.40. The trade was a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

FNF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Zacks Research cut shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Stephens decreased their price target on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Barclays raised their price objective on Fidelity National Financial from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.00.

Fidelity National Financial Price Performance

Shares of NYSE:FNF opened at $50.84 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25. The business’s fifty day moving average price is $48.15 and its two-hundred day moving average price is $50.17. The stock has a market cap of $13.68 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. Fidelity National Financial, Inc. has a one year low of $42.78 and a one year high of $61.40.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 18.2% on a year-over-year basis. On average, analysts forecast that Fidelity National Financial, Inc. will post 5.19 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Fidelity National Financial’s payout ratio is presently 75.91%.

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.