Fidelity National Financial, Inc. $FNF Stake Lessened by Cannell & Spears LLC

Key Points

• Cannell & Spears LLC reduced its stake in Fidelity National Financial by 63.2%, selling 546,604 shares in Q3 and now holds 318,281 shares valued at about $19.25 million (~0.12% of the company).
• FNF declared a quarterly dividend of $0.52 (annualized $2.08) with an ex-dividend date of March 17 and a yield of 4.4%, while the payout ratio is near 97.65%.
• In the latest quarter FNF reported EPS of $1.41, missing estimates by $0.10, but revenue of $4.05 billion beat expectations and rose 11.9% year-over-year.

Cannell & Spears LLC decreased its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 63.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,281 shares of the financial services provider's stock after selling 546,604 shares during the quarter. Cannell & Spears LLC owned 0.12% of Fidelity National Financial worth $19,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FNF. Fiduciary Trust Co lifted its stake in Fidelity National Financial by 2.0% in the 3rd quarter. Fiduciary Trust Co now owns 11,813 shares of the financial services provider's stock worth $715,000 after acquiring an additional 228 shares in the last quarter. Burney Co. grew its stake in Fidelity National Financial by 1.4% during the 3rd quarter. Burney Co. now owns 17,406 shares of the financial services provider's stock valued at $1,053,000 after acquiring an additional 243 shares in the last quarter. Centennial Wealth Advisory LLC grew its stake in Fidelity National Financial by 5.7% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 4,579 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 248 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Fidelity National Financial by 7.7% in the 2nd quarter. Fisher Asset Management LLC now owns 3,633 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 260 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Fidelity National Financial by 7.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,781 shares of the financial services provider's stock valued at $212,000 after purchasing an additional 277 shares during the period. 81.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNF has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on shares of Fidelity National Financial from $70.00 to $71.00 and gave the stock an "outperform" rating in a report on Monday, February 23rd. Weiss Ratings lowered shares of Fidelity National Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 2nd. Wall Street Zen downgraded shares of Fidelity National Financial from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Barclays decreased their target price on shares of Fidelity National Financial from $64.00 to $63.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 6th. Finally, National Bank Financial set a $71.00 price target on shares of Fidelity National Financial in a report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.33.

Insider Activity at Fidelity National Financial

In other news, Director Halim Dhanidina sold 6,000 shares of the firm's stock in a transaction on Monday, January 5th. The shares were sold at an average price of $55.90, for a total transaction of $335,400.00. Following the transaction, the director owned 13,186 shares in the company, valued at approximately $737,097.40. This trade represents a 31.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Fidelity National Financial Stock Up 2.3%

Shares of Fidelity National Financial stock opened at $47.54 on Friday. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 0.60 and a beta of 0.99. The stock has a 50-day simple moving average of $53.46 and a 200-day simple moving average of $56.17. Fidelity National Financial, Inc. has a 52-week low of $45.94 and a 52-week high of $66.72. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.24 and a quick ratio of 0.24.

Fidelity National Financial (NYSE:FNF - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The financial services provider reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.51 by ($0.10). The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.66 billion. Fidelity National Financial had a return on equity of 15.06% and a net margin of 4.17%.The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.34 EPS. On average, equities research analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, March 17th. Fidelity National Financial's payout ratio is currently 97.65%.

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.

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