Johnson Financial Group Inc. Lowers Stake in Fidelity National Financial, Inc. (NYSE:FNF)

Johnson Financial Group Inc. decreased its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,075 shares of the financial services provider’s stock after selling 2,952 shares during the period. Johnson Financial Group Inc.’s holdings in Fidelity National Financial were worth $412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FNF. Teacher Retirement System of Texas lifted its stake in shares of Fidelity National Financial by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 20,035 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 482 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Fidelity National Financial by 3.7% in the third quarter. Victory Capital Management Inc. now owns 1,443,567 shares of the financial services provider’s stock worth $59,619,000 after acquiring an additional 51,540 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in Fidelity National Financial during the third quarter valued at approximately $13,334,000. Illinois Municipal Retirement Fund raised its stake in Fidelity National Financial by 4.8% during the third quarter. Illinois Municipal Retirement Fund now owns 193,107 shares of the financial services provider’s stock valued at $7,975,000 after buying an additional 8,926 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Fidelity National Financial during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Price Performance

NYSE FNF traded up $0.84 on Friday, reaching $50.75. 540,385 shares of the stock traded hands, compared to its average volume of 999,211. The firm’s fifty day simple moving average is $50.95 and its 200 day simple moving average is $49.55. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.50. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 16.69 and a beta of 1.33. Fidelity National Financial, Inc. has a 12 month low of $33.61 and a 12 month high of $53.96.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.08). The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. Fidelity National Financial’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, research analysts predict that Fidelity National Financial, Inc. will post 4.73 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 3.78%. Fidelity National Financial’s dividend payout ratio is 63.16%.

Insider Buying and Selling

In related news, Director Halim Dhanidina sold 3,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $50.64, for a total transaction of $151,920.00. Following the completion of the sale, the director now directly owns 14,906 shares in the company, valued at $754,839.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Cary H. Thompson sold 23,410 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $51.11, for a total value of $1,196,485.10. Following the sale, the director now directly owns 40,317 shares of the company’s stock, valued at $2,060,601.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Halim Dhanidina sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $50.64, for a total value of $151,920.00. Following the completion of the sale, the director now directly owns 14,906 shares in the company, valued at $754,839.84. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FNF. Truist Financial upped their price objective on Fidelity National Financial from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Keefe, Bruyette & Woods dropped their price target on Fidelity National Financial from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Monday, May 13th. Stephens increased their price target on Fidelity National Financial from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Barclays increased their price target on Fidelity National Financial from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.80.

Fidelity National Financial Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.