Hsbc Holdings PLC Has $41.52 Million Stock Position in Fidelity National Financial, Inc. $FNF

Hsbc Holdings PLC boosted its position in Fidelity National Financial, Inc. (NYSE:FNF) by 70.3% during the 1st quarter, Holdings Channel reports. The fund owned 896,177 shares of the financial services provider’s stock after buying an additional 369,908 shares during the period. Hsbc Holdings PLC’s holdings in Fidelity National Financial were worth $41,524,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new stake in shares of Fidelity National Financial during the fourth quarter valued at approximately $26,000. Commonwealth Retirement Investments LLC bought a new position in shares of Fidelity National Financial in the 4th quarter worth $28,000. Headlands Technologies LLC acquired a new stake in Fidelity National Financial in the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC grew its position in Fidelity National Financial by 57.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 353 shares during the period. Finally, Torren Management LLC bought a new stake in Fidelity National Financial during the 4th quarter valued at $57,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Fidelity National Financial Stock Down 2.0%

Shares of NYSE:FNF opened at $50.84 on Tuesday. The business’s 50 day moving average is $48.15 and its 200 day moving average is $50.17. Fidelity National Financial, Inc. has a 12-month low of $42.78 and a 12-month high of $61.40. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.77 and a beta of 0.96. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.50.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts forecast that Fidelity National Financial, Inc. will post 5.19 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. Fidelity National Financial’s dividend payout ratio is currently 75.91%.

Analysts Set New Price Targets

FNF has been the topic of several research reports. Zacks Research downgraded shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Stephens decreased their target price on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Barclays boosted their target price on shares of Fidelity National Financial from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, National Bank Financial set a $51.00 target price on shares of Fidelity National Financial in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.00.

Insider Activity at Fidelity National Financial

In related news, EVP Peter T. Sadowski sold 69,196 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.70, for a total transaction of $3,162,257.20. Following the transaction, the executive vice president directly owned 5,702 shares of the company’s stock, valued at $260,581.40. This trade represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is currently owned by corporate insiders.

Fidelity National Financial Profile

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.