Principal Financial Group Inc. Raises Position in Fidelity National Financial, Inc. (FNF)
Principal Financial Group Inc. raised its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 65.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,770,127 shares of the financial services provider’s stock after buying an additional 7,000,057 shares during the period. Fidelity National Financial makes up approximately 0.8% of Principal Financial Group Inc.’s holdings, making the stock its 9th largest position. Principal Financial Group Inc. owned about 6.51% of Fidelity National Financial worth $796,636,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. FTB Advisors Inc. increased its position in Fidelity National Financial by 234.3% in the first quarter. FTB Advisors Inc. now owns 3,891 shares of the financial services provider’s stock worth $159,000 after buying an additional 2,727 shares during the period. Atria Investments LLC bought a new position in shares of Fidelity National Financial during the second quarter valued at $205,000. Probity Advisors Inc. bought a new position in shares of Fidelity National Financial during the second quarter valued at $213,000. Gilbert & Cook Inc. bought a new position in shares of Fidelity National Financial during the second quarter valued at $217,000. Finally, S&CO Inc. bought a new position in shares of Fidelity National Financial during the second quarter valued at $224,000. Institutional investors and hedge funds own 84.88% of the company’s stock.
Shares of Fidelity National Financial, Inc. (NYSE:FNF) opened at 47.42 on Wednesday. Fidelity National Financial, Inc. has a 52-week low of $31.64 and a 52-week high of $49.37. The company’s 50 day moving average price is $47.13 and its 200 day moving average price is $42.05. The stock has a market capitalization of $12.94 billion, a PE ratio of 20.68 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Fidelity National Financial, Inc. will post $2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, September 14th. Fidelity National Financial’s dividend payout ratio (DPR) is currently 43.67%.
Several brokerages have recently weighed in on FNF. Zacks Investment Research downgraded Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies restated a “buy” rating and set a $48.00 price target on shares of Fidelity National Financial in a report on Friday, July 14th. Finally, Barclays PLC raised their price target on Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Fidelity National Financial currently has a consensus rating of “Buy” and an average target price of $46.80.
In other news, EVP Peter T. Sadowski sold 133,215 shares of Fidelity National Financial stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the sale, the executive vice president now owns 89,575 shares in the company, valued at $4,257,499.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brent B. Bickett sold 58,896 shares of Fidelity National Financial stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $44.77, for a total value of $2,636,773.92. Following the sale, the insider now owns 562,658 shares in the company, valued at approximately $25,190,198.66. The disclosure for this sale can be found here. Insiders have sold 272,859 shares of company stock worth $12,482,636 in the last quarter. Insiders own 5.00% of the company’s stock.
Fidelity National Financial Company Profile
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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