Korea Investment CORP Decreases Stake in Fidelity National Financial, Inc. $FNF

Korea Investment CORP cut its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 58.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,997 shares of the financial services provider’s stock after selling 173,710 shares during the quarter. Korea Investment CORP’s holdings in Fidelity National Financial were worth $7,380,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FNF. Norges Bank acquired a new position in shares of Fidelity National Financial during the 2nd quarter worth approximately $189,685,000. First Trust Advisors LP increased its holdings in shares of Fidelity National Financial by 252.4% in the second quarter. First Trust Advisors LP now owns 3,379,555 shares of the financial services provider’s stock valued at $189,458,000 after purchasing an additional 2,420,421 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Fidelity National Financial by 368.3% in the second quarter. Alliancebernstein L.P. now owns 1,770,685 shares of the financial services provider’s stock valued at $99,265,000 after purchasing an additional 1,392,560 shares during the last quarter. AQR Capital Management LLC lifted its position in Fidelity National Financial by 44.7% during the second quarter. AQR Capital Management LLC now owns 2,883,135 shares of the financial services provider’s stock worth $161,629,000 after buying an additional 891,088 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Fidelity National Financial by 2.1% during the second quarter. Vanguard Group Inc. now owns 27,755,047 shares of the financial services provider’s stock worth $1,555,948,000 after buying an additional 580,133 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stephens started coverage on Fidelity National Financial in a report on Friday, November 14th. They issued an “overweight” rating for the company. Barclays reduced their price target on Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 6th. National Bank Financial set a $71.00 price target on shares of Fidelity National Financial in a research report on Monday, February 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Fidelity National Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings downgraded shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.33.

Fidelity National Financial Stock Performance

Shares of Fidelity National Financial stock opened at $46.37 on Friday. Fidelity National Financial, Inc. has a 52 week low of $45.94 and a 52 week high of $66.72. The business’s fifty day simple moving average is $53.60 and its 200-day simple moving average is $56.29. The firm has a market cap of $12.57 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 0.60 and a beta of 0.99. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.49.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Thursday, February 19th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.10). The business had revenue of $4.05 billion for 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 firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. Equities analysts forecast that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current year.

Fidelity National Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. Fidelity National Financial’s dividend payout ratio (DPR) is currently 97.65%.

Insider Activity

In other news, Director Halim Dhanidina sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $55.90, for a total value of $335,400.00. Following the sale, the director directly owned 13,186 shares of the company’s stock, valued at approximately $737,097.40. The trade was a 31.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.50% of the company’s stock.

About Fidelity National Financial

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.