North Star Asset Management Inc. Invests $9.50 Million in Fidelity National Financial, Inc. $FNF

Key Points

• North Star Asset Management acquired 244,297 shares of Fidelity National Financial worth approximately $9.5 million, joining other institutions that increased their positions. Institutional investors collectively own 81.17% of FNF.
• FNF reported stronger-than-expected quarterly results, with earnings of $1.39 per share and revenue of $4.05 billion, up 11.4% year over year.
• The company declared a quarterly dividend of $0.52 per share, equivalent to an annualized $2.08 payout and a 4.4% yield. Analysts maintain an average “Hold” rating with a $56 price target, compared with the stock’s recent price of $47.30.

North Star Asset Management Inc. bought a new stake in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 244,297 shares of the financial services provider's stock, valued at approximately $9,498,000. North Star Asset Management Inc. owned approximately 0.09% of Fidelity National Financial at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FNF. PFA Pension Forsikringsaktieselskab bought a new position in Fidelity National Financial in the fourth quarter valued at about $36,362,000. UBS Group AG boosted its stake in shares of Fidelity National Financial by 8.9% during the fourth quarter. UBS Group AG now owns 1,664,396 shares of the financial services provider's stock valued at $90,859,000 after purchasing an additional 136,268 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Fidelity National Financial during the second quarter worth about $7,047,000. Crescent Grove Advisors LLC grew its holdings in shares of Fidelity National Financial by 21.0% during the fourth quarter. Crescent Grove Advisors LLC now owns 369,205 shares of the financial services provider's stock worth $20,155,000 after purchasing an additional 64,178 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in shares of Fidelity National Financial by 23.2% in the second quarter. Wedge Capital Management L L P NC now owns 711,994 shares of the financial services provider's stock valued at $33,578,000 after buying an additional 134,228 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Financial Trading Down 0.4%

NYSE FNF opened at $47.30 on Friday. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 0.70 and a beta of 0.95. Fidelity National Financial, Inc. has a 52 week low of $42.78 and a 52 week high of $61.40. The business has a 50 day moving average price of $49.30 and a 200-day moving average price of $49.25. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $3.79 billion. During the same period last year, the business earned $1.16 EPS. Fidelity National Financial's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts expect that Fidelity National Financial, Inc. will post 5.18 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.08 annualized dividend and a yield of 4.4%. Fidelity National Financial's dividend payout ratio is presently 73.50%.

Analyst Upgrades and Downgrades

FNF has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelity National Financial from $64.00 to $61.00 and set an "outperform" rating for the company in a report on Monday, August 10th. National Bank Financial set a $54.00 target price on shares of Fidelity National Financial in a report on Friday, August 7th. Zacks Research cut shares of Fidelity National Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, May 8th. Weiss Ratings restated a "hold (c)" rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Finally, Barclays raised their price target on shares of Fidelity National Financial from $51.00 to $54.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Fidelity National Financial has an average rating of "Hold" and an average target price of $56.00.

Insiders Place Their Bets

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of the firm'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 transaction, the executive vice president directly owned 5,702 shares of the company's stock, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.70% of the company's stock.

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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