Penbrook Management LLC Lowers Holdings in Fidelity National Financial, Inc. (NYSE:FNF)

Penbrook Management LLC decreased its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 11.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,009 shares of the financial services provider’s stock after selling 4,560 shares during the quarter. Fidelity National Financial makes up 1.2% of Penbrook Management LLC’s holdings, making the stock its 16th largest position. Penbrook Management LLC’s holdings in Fidelity National Financial were worth $1,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of FNF. Victory Capital Management Inc. boosted its stake in shares of Fidelity National Financial by 195.2% in the fourth quarter. Victory Capital Management Inc. now owns 4,261,568 shares of the financial services provider’s stock worth $217,425,000 after buying an additional 2,818,001 shares during the last quarter. Confluence Investment Management LLC purchased a new position in Fidelity National Financial during the first quarter worth approximately $135,347,000. Norges Bank purchased a new position in Fidelity National Financial during the fourth quarter worth approximately $41,212,000. Schroder Investment Management Group boosted its position in Fidelity National Financial by 1,029.1% during the fourth quarter. Schroder Investment Management Group now owns 716,554 shares of the financial services provider’s stock worth $36,559,000 after purchasing an additional 653,091 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Fidelity National Financial by 182.5% during the third quarter. Citigroup Inc. now owns 926,963 shares of the financial services provider’s stock worth $38,284,000 after purchasing an additional 598,847 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Price Performance

Shares of Fidelity National Financial stock traded up $0.77 during mid-day trading on Tuesday, reaching $49.35. 835,041 shares of the stock traded hands, compared to its average volume of 1,362,748. The business has a 50-day moving average of $50.39 and a 200 day moving average of $50.35. Fidelity National Financial, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $53.96. The stock has a market capitalization of $13.48 billion, a PE ratio of 15.99 and a beta of 1.35. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.08). Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. The company had revenue of $3.30 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period in the prior year, the business posted $0.52 EPS. Fidelity National Financial’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, analysts predict that Fidelity National Financial, Inc. will post 4.67 EPS for the current year.

Fidelity National Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.89%. Fidelity National Financial’s dividend payout ratio is presently 63.16%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Fidelity National Financial from $55.00 to $53.00 and set a “market perform” rating on the stock in a research report on Tuesday. Barclays increased their price target on Fidelity National Financial from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Stephens increased their price target on Fidelity National Financial from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $55.40.

Insider Activity at Fidelity National Financial

In related news, Director Halim Dhanidina sold 3,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $50.64, for a total value of $151,920.00. Following the completion of the sale, the director now owns 14,906 shares of the company’s stock, valued at $754,839.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Fidelity National Financial news, Director Halim Dhanidina sold 3,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.64, for a total transaction of $151,920.00. Following the completion of the sale, the director now owns 14,906 shares of the company’s stock, valued at $754,839.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anthony Park sold 85,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.82, for a total value of $4,319,700.00. Following the sale, the chief financial officer now directly owns 99,049 shares of the company’s stock, valued at approximately $5,033,670.18. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.