Fidelity National Financial (NYSE:FNF) Sets New 12-Month High at $47.95
Shares of Fidelity National Financial Inc (NYSE:FNF) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.95 and last traded at $47.88, with a volume of 22380 shares trading hands. The stock had previously closed at $47.60.
A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods cut shares of Fidelity National Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $49.00 to $48.00 in a research report on Wednesday, October 9th. Finally, ValuEngine cut shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.54.
The business’s 50 day moving average price is $45.66 and its two-hundred day moving average price is $42.69. The stock has a market cap of $13.14 billion, a P/E ratio of 17.79 and a beta of 0.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.16.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.33 per share. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, December 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.75%. Fidelity National Financial’s payout ratio is presently 45.93%.
In related news, EVP Peter T. Sadowski sold 64,883 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $43.86, for a total transaction of $2,845,768.38. Following the sale, the executive vice president now owns 127,795 shares of the company’s stock, valued at $5,605,088.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael L. Gravelle sold 138,845 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $44.14, for a total transaction of $6,128,618.30. Following the sale, the executive vice president now directly owns 312,112 shares in the company, valued at approximately $13,776,623.68. The disclosure for this sale can be found here. Insiders have sold a total of 648,213 shares of company stock worth $28,390,825 in the last ninety days. Insiders own 6.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. First Allied Advisory Services Inc. raised its holdings in Fidelity National Financial by 5.4% in the third quarter. First Allied Advisory Services Inc. now owns 8,417 shares of the financial services provider’s stock worth $374,000 after buying an additional 429 shares during the last quarter. Goelzer Investment Management Inc. purchased a new position in shares of Fidelity National Financial during the third quarter valued at approximately $4,250,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Fidelity National Financial during the third quarter valued at approximately $51,000. Vestmark Advisory Solutions Inc. increased its holdings in Fidelity National Financial by 4.2% during the third quarter. Vestmark Advisory Solutions Inc. now owns 11,763 shares of the financial services provider’s stock valued at $522,000 after buying an additional 471 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Fidelity National Financial by 124.0% during the third quarter. First Trust Advisors LP now owns 2,960,313 shares of the financial services provider’s stock valued at $131,468,000 after buying an additional 1,638,625 shares during the last quarter. 76.74% of the stock is currently owned by institutional investors and hedge funds.
About Fidelity National Financial (NYSE:FNF)
Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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