Intech Investment Management LLC Reduces Position in Fidelity National Financial, Inc. $FNF

Intech Investment Management LLC lessened its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 52.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,201 shares of the financial services provider’s stock after selling 20,886 shares during the quarter. Intech Investment Management LLC’s holdings in Fidelity National Financial were worth $1,161,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FNF. Quent Capital LLC bought a new stake in shares of Fidelity National Financial in the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new position in Fidelity National Financial in the 2nd quarter worth approximately $29,000. Mather Group LLC. purchased a new position in Fidelity National Financial in the 3rd quarter valued at approximately $29,000. Atlantic Union Bankshares Corp grew its stake in Fidelity National Financial by 997.7% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider’s stock valued at $29,000 after buying an additional 429 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Fidelity National Financial during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Trading Down 0.2%

Shares of FNF opened at $50.11 on Friday. Fidelity National Financial, Inc. has a 1-year low of $48.42 and a 1-year high of $66.72. The company has a market capitalization of $13.59 billion, a P/E ratio of 23.58, a P/E/G ratio of 0.64 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.24 and a quick ratio of 0.24. The firm’s 50 day simple moving average is $54.16 and its 200 day simple moving average is $56.60.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Thursday, February 19th. The financial services provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.10). The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Fidelity National Financial had a return on equity of 15.06% and a net margin of 4.17%.Fidelity National Financial’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. Sell-side analysts forecast that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.52 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.08 annualized dividend and a yield of 4.2%. Fidelity National Financial’s payout ratio is 97.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their target price on Fidelity National Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Stephens began coverage on Fidelity National Financial in a research note on Friday, November 14th. They set an “overweight” rating on the stock. Barclays dropped their price objective 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 target price on Fidelity National Financial in a research note on Monday, February 23rd. Finally, Weiss Ratings lowered Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.33.

Insider Buying and Selling

In related news, Director Halim Dhanidina sold 6,000 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $55.90, for a total value of $335,400.00. Following the transaction, the director owned 13,186 shares of the company’s stock, valued at $737,097.40. This represents a 31.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

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.