Oppenheimer & Co. Inc. Trims Stock Position in Fidelity National Financial Inc (NYSE:FNF)
Oppenheimer & Co. Inc. cut its stake in shares of Fidelity National Financial Inc (NYSE:FNF) by 35.0% in the 2nd quarter, Holdings Channel reports. The fund owned 8,539 shares of the financial services provider’s stock after selling 4,596 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Fidelity National Financial were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of FNF. Wells Fargo & Company MN raised its stake in Fidelity National Financial by 15.9% during the 1st quarter. Wells Fargo & Company MN now owns 6,095,081 shares of the financial services provider’s stock valued at $222,776,000 after acquiring an additional 836,632 shares during the last quarter. Principal Financial Group Inc. raised its stake in Fidelity National Financial by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 18,778,341 shares of the financial services provider’s stock valued at $686,350,000 after acquiring an additional 395,247 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Fidelity National Financial by 23.6% during the 1st quarter. OppenheimerFunds Inc. now owns 1,491,816 shares of the financial services provider’s stock valued at $54,526,000 after acquiring an additional 284,594 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in Fidelity National Financial by 12.3% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,842,350 shares of the financial services provider’s stock valued at $67,338,000 after acquiring an additional 202,515 shares during the last quarter. Finally, Andra AP fonden purchased a new stake in Fidelity National Financial during the 1st quarter valued at approximately $6,670,000. 83.12% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Peter T. Sadowski sold 64,883 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $43.86, for a total transaction of $2,845,768.38. Following the completion of the transaction, the executive vice president now directly owns 127,795 shares of the company’s stock, valued at approximately $5,605,088.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.20% of the company’s stock.
Shares of FNF stock traded up $0.11 during trading hours on Thursday, reaching $44.24. 38,559 shares of the company’s stock were exchanged, compared to its average volume of 1,172,298. The company has a market cap of $12.34 billion, a P/E ratio of 16.42 and a beta of 0.84. The company’s 50 day moving average is $43.79 and its two-hundred day moving average is $39.96. Fidelity National Financial Inc has a 1 year low of $29.50 and a 1 year high of $45.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.95 and a quick ratio of 0.95.
Fidelity National Financial (NYSE:FNF) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fidelity National Financial had a return on equity of 16.10% and a net margin of 9.84%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. As a group, analysts predict that Fidelity National Financial Inc will post 2.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, September 13th. Fidelity National Financial’s dividend payout ratio (DPR) is 45.93%.
About Fidelity National Financial
Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products 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 trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
Recommended Story: Stock Symbols Definition, Examples, Lookup
Want to see what other hedge funds are holding FNF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fidelity National Financial Inc (NYSE:FNF).
Receive News & Ratings for Fidelity National Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity National Financial and related companies with MarketBeat.com's FREE daily email newsletter.