SEB Asset Management AB Takes $13.36 Million Position in Fidelity National Financial, Inc. $FNF

Key Points

• SEB Asset Management AB opened a new position in Fidelity National Financial, buying 288,030 shares worth about $13.36 million in the first quarter.
• FNF shares were down 2.0% in Tuesday trading, and the stock has a market value of about $13.68 billion with a recent price of $50.84.
• The company recently reported Q1 earnings below expectations, with EPS of $0.93 versus the $1.09 consensus, while also paying a quarterly dividend of $0.52 per share for a 4.1% yield.

SEB Asset Management AB purchased a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 288,030 shares of the financial services provider's stock, valued at approximately $13,359,000. SEB Asset Management AB owned approximately 0.11% of Fidelity National Financial as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FNF. Crossmark Global Holdings Inc. boosted its holdings in shares of Fidelity National Financial by 1.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 17,542 shares of the financial services provider's stock valued at $958,000 after buying an additional 192 shares in the last quarter. Kera Capital Partners Inc. increased its stake in shares of Fidelity National Financial by 6.1% in the 4th quarter. Kera Capital Partners Inc. now owns 3,946 shares of the financial services provider's stock worth $215,000 after acquiring an additional 228 shares in the last quarter. Fiduciary Trust Co increased its stake in shares of 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. Brooklyn Investment Group lifted its position in Fidelity National Financial by 2.1% during the 4th quarter. Brooklyn Investment Group now owns 11,272 shares of the financial services provider's stock valued at $621,000 after acquiring an additional 231 shares during the period. Finally, Centennial Wealth Advisory LLC lifted its position in Fidelity National Financial by 5.3% during the 4th quarter. Centennial Wealth Advisory LLC now owns 4,822 shares of the financial services provider's stock valued at $263,000 after acquiring an additional 243 shares during the period. Institutional investors own 81.17% of the company's stock.

Fidelity National Financial Stock Down 2.0%

Shares of Fidelity National Financial stock opened at $50.84 on Tuesday. The company has a 50-day simple moving average of $48.15 and a two-hundred day simple moving average of $50.17. The stock has a market capitalization of $13.68 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. Fidelity National Financial, Inc. has a 52-week low of $42.78 and a 52-week high of $61.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.25 and a current ratio of 0.25.

Fidelity National Financial (NYSE:FNF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.16). The firm had revenue of $3.23 billion for the quarter, compared to analysts' expectations of $3.61 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The company's quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. On average, analysts anticipate that Fidelity National Financial, Inc. will post 5.19 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Fidelity National Financial's dividend payout ratio (DPR) is currently 75.91%.

Insider Activity at Fidelity National Financial

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of Fidelity National Financial stock in a transaction on Friday, June 26th. The stock was 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 owned 5,702 shares of the company's stock, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.70% of the company's stock.

Wall Street Analyst Weigh In

FNF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their price objective on shares of Fidelity National Financial from $67.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, June 25th. Barclays boosted their price target on Fidelity National Financial from $50.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Weiss Ratings restated a "hold (c)" rating on shares of Fidelity National Financial in a research note on Thursday, June 11th. Stephens reduced their price objective on Fidelity National Financial from $61.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Finally, National Bank Financial set a $51.00 price objective on Fidelity National Financial in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, two have given 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 price target of $56.00.

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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