Allstate Corp Boosts Stake in Fidelity National Financial, Inc. $FNF

Allstate Corp raised its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 109.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,411 shares of the financial services provider’s stock after purchasing an additional 10,682 shares during the quarter. Allstate Corp’s holdings in Fidelity National Financial were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Fidelity National Financial in the fourth quarter valued at $26,000. Atlantic Union Bankshares Corp raised its holdings in shares of Fidelity National Financial by 997.7% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider’s stock valued at $29,000 after buying an additional 429 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Fidelity National Financial in the 2nd quarter valued at $32,000. Torren Management LLC purchased a new stake in shares of Fidelity National Financial in the 4th quarter valued at $57,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Fidelity National Financial in the 4th quarter valued at $94,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FNF. National Bank Financial set a $50.00 price objective on Fidelity National Financial in a report on Monday, May 11th. Zacks Research downgraded Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings downgraded Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Keefe, Bruyette & Woods cut their price objective on Fidelity National Financial from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Finally, Barclays cut their price objective on Fidelity National Financial from $54.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Two research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.25.

Fidelity National Financial Trading Down 0.5%

FNF opened at $47.33 on Friday. The business has a fifty day moving average price of $48.25 and a 200 day moving average price of $52.56. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.69 and a beta of 1.00. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month 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 announced its earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.61 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. Sell-side analysts expect that Fidelity National Financial, Inc. will post 5.3 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Fidelity National Financial’s dividend payout ratio is 75.91%.

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.