Bank of America Corp DE Buys 33,943 Shares of Fidelity National Financial, Inc. $FNF

Key Points

• Bank of America increased its Fidelity National Financial stake by 4.5%, purchasing 33,943 shares to own 787,136 shares valued at approximately $36.5 million. Institutional investors collectively hold 81.17% of FNF’s outstanding stock.
• FNF reported quarterly EPS of $1.39, exceeding estimates of $1.31, while revenue rose 11.4% year over year to $4.05 billion. Analysts maintain a consensus “Hold” rating with an average price target of $56.75.
• The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 4.2% yield. Shares recently traded near $49.43, compared with a 12-month range of $42.78 to $61.40.

Bank of America Corp DE lifted its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 787,136 shares of the financial services provider's stock after purchasing an additional 33,943 shares during the period. Bank of America Corp DE owned approximately 0.29% of Fidelity National Financial worth $36,507,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Windacre Partnership LLC increased its stake in Fidelity National Financial by 31.0% during the 3rd quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider's stock worth $1,143,569,000 after purchasing an additional 4,477,900 shares in the last quarter. State Street Corp increased its position in shares of Fidelity National Financial by 0.3% in the third quarter. State Street Corp now owns 9,469,029 shares of the financial services provider's stock worth $572,782,000 after purchasing an additional 31,318 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Fidelity National Financial by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,353,982 shares of the financial services provider's stock worth $510,634,000 after buying an additional 193,629 shares during the last quarter. AQR Capital Management LLC increased its position in Fidelity National Financial by 34.5% in the 4th quarter. AQR Capital Management LLC now owns 6,800,697 shares of the financial services provider's stock valued at $371,250,000 after acquiring an additional 1,743,342 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Fidelity National Financial by 0.9% in the fourth quarter. First Eagle Investment Management LLC now owns 6,102,523 shares of the financial services provider's stock valued at $333,137,000 after buying an additional 54,756 shares during the period. Institutional investors own 81.17% of the company's stock.

Insider Activity

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of the firm's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the sale, the executive vice president directly owned 5,702 shares in the company, valued at $260,581.40. This trade represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FNF. Zacks Research lowered Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Stephens dropped their price objective on shares of 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. National Bank Financial set a $54.00 price objective on shares of Fidelity National Financial in a report on Friday, August 7th. Barclays upped their target price on shares of Fidelity National Financial from $51.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fidelity National Financial in a 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fidelity National Financial currently has a consensus rating of "Hold" and an average target price of $56.75.

Fidelity National Financial Stock Performance

Shares of NYSE:FNF opened at $49.43 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $49.24 and a 200-day moving average price of $49.76. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month high of $61.40.

Fidelity National Financial (NYSE:FNF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Fidelity National Financial's revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fidelity National Financial, Inc. will post 5.14 EPS for the current year.

Fidelity National Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Fidelity National Financial's dividend payout ratio (DPR) is currently 73.50%.

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.

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