Sumitomo Mitsui Trust Group Inc. Sells 11,628 Shares of Fidelity National Financial, Inc. $FNF

Sumitomo Mitsui Trust Group Inc. cut its position in Fidelity National Financial, Inc. (NYSE:FNF) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 643,328 shares of the financial services provider’s stock after selling 11,628 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Fidelity National Financial were worth $29,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FNF. Assenagon Asset Management S.A. bought a new stake in Fidelity National Financial during the fourth quarter valued at about $3,585,000. Sound Income Strategies LLC boosted its stake in shares of Fidelity National Financial by 342,784.1% in the fourth quarter. Sound Income Strategies LLC now owns 150,869 shares of the financial services provider’s stock worth $7,976,000 after acquiring an additional 150,825 shares during the period. Oak Thistle LLC purchased a new stake in shares of Fidelity National Financial during the fourth quarter worth about $1,439,000. UBS Group AG grew its position in shares of Fidelity National Financial by 8.9% during the fourth quarter. UBS Group AG now owns 1,664,396 shares of the financial services provider’s stock worth $90,859,000 after purchasing an additional 136,268 shares in the last quarter. Finally, JCP Investment Management LLC raised its stake in Fidelity National Financial by 64.2% during the 3rd quarter. JCP Investment Management LLC now owns 346,254 shares of the financial services provider’s stock valued at $20,945,000 after purchasing an additional 135,355 shares during the period. 81.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fidelity National Financial

In related news, EVP Peter T. Sadowski sold 69,196 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the sale, the executive vice president owned 5,702 shares in the company, valued at approximately $260,581.40. The trade was a 92.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FNF shares. Barclays boosted their price target on Fidelity National Financial from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Stephens reduced their price objective on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Keefe, Bruyette & Woods lowered their target price on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Finally, National Bank Financial set a $51.00 target price on shares of Fidelity National Financial in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fidelity National Financial presently has a consensus rating of “Hold” and an average target price of $56.00.

Fidelity National Financial Price Performance

NYSE:FNF opened at $50.06 on Tuesday. The business’s 50-day moving average is $48.09 and its 200 day moving average is $50.32. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month high of $61.40. The company has a market capitalization of $13.47 billion, a P/E ratio of 18.30, a P/E/G ratio of 0.73 and a beta of 0.96. The company has a current ratio of 0.25, a quick 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 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts forecast that Fidelity National Financial, Inc. will post 5.24 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Fidelity National Financial’s dividend payout ratio (DPR) 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.