Hennessy Advisors Inc. Trims Stock Holdings in Fidelity National Financial, Inc. $FNF

Hennessy Advisors Inc. reduced its position in Fidelity National Financial, Inc. (NYSE:FNF) by 7.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,500 shares of the financial services provider’s stock after selling 9,800 shares during the quarter. Hennessy Advisors Inc.’s holdings in Fidelity National Financial were worth $7,471,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Fidelity National Financial by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 27,755,047 shares of the financial services provider’s stock worth $1,555,948,000 after purchasing an additional 580,133 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Fidelity National Financial by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 9,235,289 shares of the financial services provider’s stock worth $517,730,000 after buying an additional 234,288 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fidelity National Financial by 0.8% during the second quarter. Geode Capital Management LLC now owns 4,795,238 shares of the financial services provider’s stock worth $268,026,000 after buying an additional 37,473 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Fidelity National Financial by 93.3% during the first quarter. Millennium Management LLC now owns 3,764,086 shares of the financial services provider’s stock worth $244,967,000 after buying an additional 1,817,124 shares during the last quarter. Finally, Norges Bank acquired a new position in Fidelity National Financial in the 2nd quarter valued at about $189,685,000. 81.17% of the stock is owned by institutional investors and hedge funds.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $54.63 on Friday. The company has a market cap of $15.36 billion, a P/E ratio of 13.17 and a beta of 1.00. Fidelity National Financial, Inc. has a one year low of $50.61 and a one year high of $66.72. The business has a fifty day moving average of $56.90 and a two-hundred day moving average of $57.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.25 and a current ratio of 0.25.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Thursday, July 13th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter. Fidelity National Financial had a net margin of 8.34% and a return on equity of 15.06%. The business had revenue of $3.17 billion during the quarter. As a group, analysts predict that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Wednesday, December 17th. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.50. Fidelity National Financial’s payout ratio is 50.12%.

Analyst Ratings Changes

FNF has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fidelity National Financial in a research report on Monday. Wall Street Zen upgraded Fidelity National Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Barclays reiterated a “cautious” rating on shares of Fidelity National Financial in a research report on Monday, October 6th. National Bankshares set a $72.00 price objective on shares of Fidelity National Financial in a research report on Thursday, December 18th. Finally, Stephens initiated coverage on shares of Fidelity National Financial in a research note on Friday, November 14th. They issued an “overweight” rating for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Fidelity National Financial has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Insider Activity at Fidelity National Financial

In related news, Director Daniel D. Lane sold 6,367 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $57.63, for a total value of $366,930.21. Following the sale, the director owned 276,308 shares in the company, valued at $15,923,630.04. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by company 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.