Wedge Capital Management L L P NC Boosts Stock Position in Fidelity National Financial, Inc. $FNF

Wedge Capital Management L L P NC lifted its position in Fidelity National Financial, Inc. (NYSE:FNF) by 23.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 711,994 shares of the financial services provider’s stock after purchasing an additional 134,228 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Fidelity National Financial were worth $33,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its holdings in Fidelity National Financial by 1.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,542 shares of the financial services provider’s stock worth $958,000 after buying an additional 192 shares during the period. Kera Capital Partners Inc. increased its stake in shares of Fidelity National Financial by 6.1% in the fourth quarter. Kera Capital Partners Inc. now owns 3,946 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 228 shares during the period. Fiduciary Trust Co raised its holdings in shares of Fidelity National Financial by 2.0% during the third quarter. Fiduciary Trust Co now owns 11,813 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 228 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Fidelity National Financial by 2.1% during the fourth quarter. Brooklyn Investment Group now owns 11,272 shares of the financial services provider’s stock worth $621,000 after purchasing an additional 231 shares during the last quarter. Finally, 44 Wealth Management LLC lifted its position in Fidelity National Financial by 1.7% during the fourth quarter. 44 Wealth Management LLC now owns 15,090 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 81.17% of the company’s stock.

Insider Buying and Selling

In other news, EVP Peter T. Sadowski sold 69,196 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the sale, the executive vice president directly owned 5,702 shares in the company, valued at $260,581.40. The trade was a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

FNF has been the subject of several analyst reports. National Bank Financial set a $54.00 price objective on Fidelity National Financial in a report on Friday. Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Barclays lifted their price target on Fidelity National Financial from $51.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Stephens lowered their price objective on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on Fidelity National Financial from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Monday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.75.

Fidelity National Financial Trading Down 0.9%

FNF stock opened at $47.58 on Wednesday. The company’s 50-day simple moving average is $49.10 and its 200-day simple moving average is $49.85. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.50. Fidelity National Financial, Inc. has a 52-week low of $42.78 and a 52-week high of $61.40. The firm has a market cap of $12.76 billion, a P/E ratio of 16.80, a PEG ratio of 0.71 and a beta of 0.95.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. Fidelity National Financial had a return on equity of 16.07% and a net margin of 5.03%.The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Fidelity National Financial’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts forecast that Fidelity National Financial, Inc. will post 5.16 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 73.50%.

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.