Confluence Investment Management LLC Sells 48,095 Shares of Fidelity National Financial, Inc. $FNF

Confluence Investment Management LLC reduced its stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,908,912 shares of the financial services provider's stock after selling 48,095 shares during the period. Fidelity National Financial accounts for approximately 1.4% of Confluence Investment Management LLC's investment portfolio, making the stock its 27th biggest position. Confluence Investment Management LLC owned approximately 0.71% of Fidelity National Financial worth $90,024,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Fidelity National Financial during the fourth quarter worth approximately $26,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Fidelity National Financial in the fourth quarter valued at approximately $28,000. Headlands Technologies LLC bought a new position in shares of Fidelity National Financial during the second quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC increased its position in Fidelity National Financial by 57.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider's stock worth $53,000 after buying an additional 353 shares during the period. Finally, Fideuram Asset Management Ireland dac acquired a new stake in Fidelity National Financial in the 4th quarter worth about $58,000. Institutional investors and hedge funds own 81.17% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FNF shares. 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 report on Tuesday, May 12th. Barclays boosted their target price on shares of Fidelity National Financial from $50.00 to $51.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. National Bank Financial set a $51.00 price target on shares of Fidelity National Financial in a report on Tuesday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. Finally, Zacks Research downgraded shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Fidelity National Financial has an average rating of "Hold" and an average target price of $56.00.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $51.65 on Tuesday. The stock has a 50-day moving average price of $48.77 and a two-hundred day moving average price of $49.96. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month high of $61.40. The company has a market capitalization of $13.90 billion, a PE ratio of 18.88, a P/E/G ratio of 0.77 and a beta of 0.95. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.16). Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The business's revenue for the quarter was up 18.2% on a year-over-year basis. Analysts expect that Fidelity National Financial, Inc. will post 5.11 EPS for the current year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 16th. Fidelity National Financial's payout ratio is 75.91%.

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 on 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 sale, the executive vice president owned 5,702 shares of the company's stock, valued at $260,581.40. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.70% of the company's stock.

Fidelity National Financial 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.

Want to see what other hedge funds are holding FNF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity National Financial, Inc. (NYSE:FNF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.