TPG Group Holdings SBS Advisors Inc. Cuts Stake in Fidelity National Financial, Inc. (FNF)
TPG Group Holdings SBS Advisors Inc. lowered its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,081,584 shares of the financial services provider’s stock after selling 50,000 shares during the period. Fidelity National Financial comprises approximately 1.3% of TPG Group Holdings SBS Advisors Inc.’s holdings, making the stock its 11th largest holding. TPG Group Holdings SBS Advisors Inc. owned about 0.76% of Fidelity National Financial worth $93,317,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Fiduciary Trust Co. bought a new position in Fidelity National Financial in the second quarter worth approximately $137,000. Northwestern Mutual Wealth Management Co. boosted its position in Fidelity National Financial by 3,739.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,417 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 3,328 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Fidelity National Financial by 3.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,467 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 131 shares in the last quarter. King Luther Capital Management Corp bought a new stake in Fidelity National Financial during the 1st quarter valued at $204,000. Finally, Atria Investments LLC bought a new stake in Fidelity National Financial during the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 82.09% of the company’s stock.
Fidelity National Financial, Inc. (NYSE:FNF) traded up 0.625% during midday trading on Tuesday, reaching $34.615. 1,302,133 shares of the company were exchanged. Fidelity National Financial, Inc. has a 52 week low of $22.85 and a 52 week high of $35.65. The firm has a 50-day moving average price of $34.31 and a 200-day moving average price of $31.69. The company has a market capitalization of $9.44 billion, a PE ratio of 15.096 and a beta of 0.92.
Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Fidelity National Financial had a return on equity of 10.41% and a net margin of 7.49%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business posted $0.74 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Fidelity National Financial, Inc. will post $2.55 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Monday, October 2nd. Investors of record on Monday, October 2nd were issued a $30.66 dividend. The ex-dividend date was Monday, October 2nd. Fidelity National Financial’s dividend payout ratio (DPR) is 43.67%.
Several research firms have recently commented on FNF. Zacks Investment Research lowered Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Barclays PLC raised their price objective on Fidelity National Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $48.00 price objective on shares of Fidelity National Financial in a research report on Friday, July 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.60.
In related news, Director Janet Kerr sold 786 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $48.41, for a total value of $38,050.26. Following the transaction, the director now owns 11,817 shares of the company’s stock, valued at $572,060.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter T. Sadowski sold 133,215 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $47.53, for a total value 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 approximately $4,257,499.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,001 shares of company stock worth $10,226,559. 5.00% of the stock is owned by corporate insiders.
Fidelity National Financial Profile
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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