Foster & Motley Inc. Cuts Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

Foster & Motley Inc. lessened its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 48,130 shares of the financial services provider’s stock after selling 4,538 shares during the quarter. Foster & Motley Inc.’s holdings in Fidelity National Financial were worth $2,702,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FNF. Renaissance Technologies LLC purchased a new position in shares of Fidelity National Financial in the 2nd quarter valued at $1,305,000. Marshall Wace LLP purchased a new position in shares of Fidelity National Financial in the 2nd quarter valued at $2,704,000. Susquehanna Fundamental Investments LLC purchased a new stake in Fidelity National Financial during the 2nd quarter worth $306,000. Cetera Investment Advisers increased its stake in Fidelity National Financial by 1.3% during the 2nd quarter. Cetera Investment Advisers now owns 45,001 shares of the financial services provider’s stock worth $2,224,000 after buying an additional 584 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Fidelity National Financial during the 2nd quarter worth $3,349,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Insider Activity at Fidelity National Financial

In other Fidelity National Financial news, Director Halim Dhanidina sold 2,800 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $54.85, for a total value of $153,580.00. Following the completion of the transaction, the director now owns 16,716 shares in the company, valued at approximately $916,872.60. This represents a 14.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sandra Douglass Morgan sold 2,092 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $56.33, for a total transaction of $117,842.36. Following the completion of the transaction, the director now owns 32,386 shares of the company’s stock, valued at approximately $1,824,303.38. This trade represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Fidelity National Financial Stock Performance

Shares of Fidelity National Financial stock opened at $58.54 on Friday. The firm has a market cap of $16.02 billion, a PE ratio of 21.29 and a beta of 1.38. The firm’s 50-day simple moving average is $58.61 and its 200-day simple moving average is $58.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. Fidelity National Financial, Inc. has a 1 year low of $46.85 and a 1 year high of $64.83.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. Equities analysts forecast that Fidelity National Financial, Inc. will post 4.57 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, December 17th. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s dividend payout ratio is currently 72.73%.

Analyst Upgrades and Downgrades

FNF has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $77.00 in a research note on Friday, January 3rd. Truist Financial lifted their price target on shares of Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Barclays lifted their price target on shares of Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.40.

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.