Public Employees Retirement System of Ohio Makes New $9.13 Million Investment in Fidelity National Financial, Inc. $FNF

Key Points

• Public Employees Retirement System of Ohio bought 193,604 shares of Fidelity National Financial, worth approximately $9.13 million, giving it a 0.07% stake. Institutional investors collectively own 81.17% of FNF.
• Analysts maintain a generally neutral outlook, with a consensus “Hold” rating and a $56 target price. Recent targets range from $54 to $55.
• FNF exceeded quarterly expectations with $1.39 in EPS and $4.05 billion in revenue, while announcing a quarterly dividend of $0.52, equivalent to a 4.5% yield. Shares opened at $46.40, down 2.4%.

Public Employees Retirement System of Ohio purchased a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 193,604 shares of the financial services provider's stock, valued at approximately $9,130,000. Public Employees Retirement System of Ohio owned about 0.07% of Fidelity National Financial as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Commonwealth Retirement Investments LLC bought a new stake in shares of Fidelity National Financial during the 4th quarter worth $28,000. Headlands Technologies LLC bought a new position in Fidelity National Financial in the 2nd quarter worth $32,000. Ancora Advisors LLC bought a new position in Fidelity National Financial in the 2nd quarter worth $43,000. Cary Street Partners Investment Advisory LLC lifted 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 acquiring an additional 353 shares during the last quarter. Finally, Fideuram Asset Management Ireland dac acquired a new position in Fidelity National Financial during the 4th quarter worth $58,000. Institutional investors own 81.17% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FNF. National Bank Financial set a $54.00 price target on Fidelity National Financial in a research report on Friday, August 7th. Stephens restated an "overweight" rating and set a $55.00 target price on shares of Fidelity National Financial in a research note on Monday, August 24th. Zacks Research raised Fidelity National Financial from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Finally, Barclays upped their price target on Fidelity National Financial from $51.00 to $54.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Fidelity National Financial presently has a consensus rating of "Hold" and a consensus target price of $56.00.

Insider Activity at Fidelity National Financial

In other news, EVP Peter T. Sadowski sold 69,196 shares of the company'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 sale, the executive vice president owned 5,702 shares of the company's stock, valued at approximately $260,581.40. This represents a 92.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.70% of the company's stock.

Fidelity National Financial Trading Down 2.4%

Shares of FNF opened at $46.40 on Tuesday. 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 stock has a market cap of $12.44 billion, a PE ratio of 16.38, a PEG ratio of 0.70 and a beta of 0.95. Fidelity National Financial, Inc. has a 1 year low of $42.78 and a 1 year high of $61.40. The stock has a 50 day simple moving average of $49.30 and a 200-day simple moving average of $49.12.

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 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. Fidelity National Financial's quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Fidelity National Financial, Inc. will post 5.18 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, September 16th. Fidelity National Financial's payout ratio is currently 73.50%.

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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