Cannell Peter B & Co. Inc. lessened its holdings in Fidelity National Financial Inc (NYSE:FNF) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 317,604 shares of the financial services provider’s stock after selling 3,916 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in Fidelity National Financial were worth $12,498,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. NumerixS Investment Technologies Inc bought a new position in shares of Fidelity National Financial in the 2nd quarter valued at about $168,000. Cerebellum GP LLC boosted its stake in shares of Fidelity National Financial by 100.1% in the 3rd quarter. Cerebellum GP LLC now owns 4,514 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 2,258 shares during the last quarter. Park National Corp OH bought a new position in shares of Fidelity National Financial in the 3rd quarter valued at about $206,000. Zacks Investment Management bought a new position in shares of Fidelity National Financial in the 2nd quarter valued at about $200,000. Finally, Capital One National Association bought a new position in shares of Fidelity National Financial in the 2nd quarter valued at about $202,000. 82.85% of the stock is currently owned by institutional investors.
Shares of NYSE:FNF opened at $33.75 on Thursday. The company has a market capitalization of $9.16 billion, a P/E ratio of 14.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. Fidelity National Financial Inc has a fifty-two week low of $31.14 and a fifty-two week high of $42.52.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, December 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.56%. Fidelity National Financial’s dividend payout ratio is 52.86%.
Fidelity National Financial announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 17th that authorizes the company to buyback 25,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several research analysts have recently issued reports on the stock. Barclays set a $43.00 target price on shares of Fidelity National Financial and gave the company a “buy” rating in a research note on Friday, October 26th. ValuEngine lowered shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research lowered shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. Finally, Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.40.
In related news, COO Roger S. Jewkes sold 42,025 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $39.52, for a total value of $1,660,828.00. Following the sale, the chief operating officer now directly owns 201,762 shares in the company, valued at approximately $7,973,634.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cary H. Thompson sold 85,639 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $40.10, for a total transaction of $3,434,123.90. Following the completion of the sale, the director now owns 74,000 shares in the company, valued at $2,967,400. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.
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Fidelity National Financial Company Profile
Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries 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 collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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