Eii Capital Management Inc. Cuts Stake in Fidelity National Financial, Inc. (FNF)
Eii Capital Management Inc. decreased its position in Fidelity National Financial, Inc. (NYSE:FNF) by 11.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,590 shares of the financial services provider’s stock after selling 7,300 shares during the period. Eii Capital Management Inc.’s holdings in Fidelity National Financial were worth $2,627,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of FNF. Tyers Asset Management LLC purchased a new stake in shares of Fidelity National Financial during the first quarter worth approximately $1,114,000. Canada Pension Plan Investment Board boosted its stake in shares of Fidelity National Financial by 81.6% in the first quarter. Canada Pension Plan Investment Board now owns 345,658 shares of the financial services provider’s stock worth $13,460,000 after buying an additional 155,286 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Fidelity National Financial by 10.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,266 shares of the financial services provider’s stock worth $711,000 after buying an additional 1,683 shares in the last quarter. Strs Ohio boosted its stake in shares of Fidelity National Financial by 5.5% in the first quarter. Strs Ohio now owns 42,377 shares of the financial services provider’s stock worth $1,650,000 after buying an additional 2,212 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Fidelity National Financial during the first quarter worth approximately $209,000. 84.88% of the stock is owned by institutional investors.
Fidelity National Financial, Inc. (NYSE FNF) opened at 47.45 on Wednesday. The stock has a 50 day moving average price of $47.13 and a 200 day moving average price of $42.05. Fidelity National Financial, Inc. has a one year low of $31.64 and a one year high of $49.37. The firm has a market cap of $12.95 billion, a PE ratio of 20.69 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.14 billion. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.41%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts expect that Fidelity National Financial, Inc. will post $2.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. Fidelity National Financial’s payout ratio is currently 43.67%.
A number of analysts have commented on the company. Zacks Investment Research cut Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $48.00 price target on shares of Fidelity National Financial in a research report on Friday, July 14th. Finally, Barclays PLC lifted their price target on Fidelity National Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, July 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.80.
In related news, insider Brent B. Bickett sold 58,896 shares of the firm’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $44.77, for a total value of $2,636,773.92. Following the completion of the sale, the insider now owns 562,658 shares in the company, valued at $25,190,198.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Peter T. Sadowski sold 133,215 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the completion of the sale, the executive vice president now owns 89,575 shares of the company’s stock, valued at approximately $4,257,499.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,859 shares of company stock valued at $12,482,636. 5.00% of the stock is owned by insiders.
About Fidelity National Financial
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.
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