Fidelity National Financial, Inc. (FNF) Shares Bought by Bessemer Group Inc.
Bessemer Group Inc. increased its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 23,419 shares of the financial services provider’s stock after buying an additional 67 shares during the period. Bessemer Group Inc.’s holdings in Fidelity National Financial were worth $1,050,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNF. FTB Advisors Inc. boosted its position in shares of Fidelity National Financial by 234.3% in the first quarter. FTB Advisors Inc. now owns 3,891 shares of the financial services provider’s stock valued at $159,000 after buying an additional 2,727 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Fidelity National Financial during the second quarter valued at approximately $205,000. Probity Advisors Inc. acquired a new position in shares of Fidelity National Financial during the second quarter valued at approximately $213,000. Gilbert & Cook Inc. acquired a new position in shares of Fidelity National Financial during the second quarter valued at approximately $217,000. Finally, King Luther Capital Management Corp acquired a new position in shares of Fidelity National Financial during the first quarter valued at approximately $204,000. Institutional investors own 86.92% of the company’s stock.
Shares of Fidelity National Financial, Inc. (NYSE:FNF) opened at 47.31 on Tuesday. Fidelity National Financial, Inc. has a 52 week low of $31.64 and a 52 week high of $49.37. The firm has a 50-day moving average of $46.39 and a 200-day moving average of $41.35. The firm has a market cap of $12.91 billion, a PE ratio of 20.63 and a beta of 0.95.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.14 billion. Fidelity National Financial had a net margin of 7.49% and a return on equity of 10.41%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. On average, analysts expect that Fidelity National Financial, Inc. will post $2.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, September 14th. Fidelity National Financial’s dividend payout ratio (DPR) is currently 43.67%.
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Several research analysts recently commented on FNF shares. Zacks Investment Research cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $48.00 price target on shares of Fidelity National Financial in a research note on Friday, July 14th. Barclays PLC increased their price target on shares of Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Finally, Monness Crespi & Hardt increased their price target on shares of Fidelity National Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, May 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Fidelity National Financial has an average rating of “Buy” and an average price target of $46.60.
In related news, CFO Anthony Park sold 138,941 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $41.28, for a total value of $5,735,484.48. Following the transaction, the chief financial officer now directly owns 228,280 shares of the company’s stock, valued at approximately $9,423,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter T. Sadowski sold 133,215 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $47.53, for a total transaction of $6,331,708.95. Following the completion of the transaction, the executive vice president now directly owns 89,575 shares in the company, valued at $4,257,499.75. The disclosure for this sale can be found here. Insiders sold a total of 411,800 shares of company stock worth $18,218,120 over the last three months. 5.00% of the stock is owned by insiders.
About Fidelity National Financial
Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.
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