Swiss National Bank Cuts Position in Fidelity National Financial, Inc. $FNF

Key Points

• Swiss National Bank cut its stake in Fidelity National Financial by 4.9% to 751,900 shares, worth $45.48 million and representing about 0.28% of the company.
• Director Halim Dhanidina sold 6,000 shares at an average $55.90 (≈$335,400), trimming his holding by 31.27%; corporate insiders now own 5.50% of the stock.
• FNF missed quarterly EPS ($1.41 vs. $1.51) but beat on revenue ($4.05B vs. $3.66B), and declared a $0.52 quarterly dividend (4.5% yield) with a payout ratio of 97.65%.

Swiss National Bank decreased its position in Fidelity National Financial, Inc. (NYSE:FNF - Free Report) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 751,900 shares of the financial services provider's stock after selling 38,800 shares during the quarter. Swiss National Bank owned 0.28% of Fidelity National Financial worth $45,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Quent Capital LLC purchased a new position in shares of Fidelity National Financial in the third quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Fidelity National Financial during the second quarter valued at $29,000. Mather Group LLC. purchased a new stake in Fidelity National Financial during the third quarter valued at $29,000. Atlantic Union Bankshares Corp lifted its position in Fidelity National Financial by 997.7% during the third quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 429 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Fidelity National Financial during the second quarter valued at $32,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Halim Dhanidina sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $55.90, for a total transaction of $335,400.00. Following the completion of the sale, the director directly owned 13,186 shares of the company's stock, valued at approximately $737,097.40. This trade represents a 31.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FNF shares. Stephens began coverage on shares of Fidelity National Financial in a report on Friday, November 14th. They issued an "overweight" rating on the stock. National Bank Financial set a $71.00 price target on shares of Fidelity National Financial in a report on Monday, February 23rd. Barclays dropped their price target on Fidelity National Financial from $64.00 to $63.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price objective on Fidelity National Financial from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Finally, Wall Street Zen downgraded Fidelity National Financial from a "buy" rating to a "hold" rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.33.

Fidelity National Financial Price Performance

FNF stock opened at $46.37 on Friday. Fidelity National Financial, Inc. has a 12 month low of $45.94 and a 12 month high of $66.72. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $53.60 and a 200 day moving average price of $56.29. The stock has a market cap of $12.57 billion, a PE ratio of 21.82, a P/E/G ratio of 0.60 and a beta of 0.99.

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

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, March 17th. Fidelity National Financial's dividend payout ratio is presently 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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