Independent Financial Group LLC Makes New $570,000 Investment in Fidelity National Financial, Inc. $FNF

Independent Financial Group LLC acquired a new position in shares of Fidelity National Financial, Inc. (NYSE:FNF) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,298 shares of the financial services provider’s stock, valued at approximately $570,000.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Fidelity National Financial by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 2,529,383 shares of the financial services provider’s stock worth $117,313,000 after acquiring an additional 13,147 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Fidelity National Financial by 13.7% in the first quarter. Illinois Municipal Retirement Fund now owns 72,139 shares of the financial services provider’s stock valued at $3,346,000 after purchasing an additional 8,670 shares in the last quarter. Calamos Wealth Management LLC bought a new stake in Fidelity National Financial in the first quarter valued at $300,000. Calamos Advisors LLC acquired a new position in shares of Fidelity National Financial during the first quarter valued at about $300,000. Finally, Bleakley Financial Group LLC raised its holdings in shares of Fidelity National Financial by 1.9% during the first quarter. Bleakley Financial Group LLC now owns 130,264 shares of the financial services provider’s stock valued at $6,042,000 after purchasing an additional 2,480 shares during the period. Institutional investors own 81.17% of the company’s stock.

Insider Activity at Fidelity National Financial

In other news, EVP Peter T. Sadowski sold 69,196 shares of the 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 of the company’s stock, valued at $260,581.40. This represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.70% of the stock is currently owned by company insiders.

Fidelity National Financial Stock Down 1.1%

Shares of NYSE FNF opened at $50.22 on Thursday. The stock has a market capitalization of $13.52 billion, a P/E ratio of 18.35, a P/E/G ratio of 0.75 and a beta of 0.96. The company has a 50-day moving average price of $48.27 and a 200-day moving average price of $50.11. Fidelity National Financial, Inc. has a 1 year low of $42.78 and a 1 year high of $61.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25.

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

Fidelity National Financial Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently commented on FNF shares. Barclays raised their target price on Fidelity National Financial from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. National Bank Financial set a $51.00 price target on Fidelity National Financial in a research note on Tuesday, July 7th. Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Stephens reduced their price objective on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Two investment 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. Based on data from MarketBeat, Fidelity National Financial currently has an average rating of “Hold” and a consensus target price of $56.00.

Fidelity National Financial Company 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.