Wedge Capital Management L L P NC Acquires 134,228 Shares of Fidelity National Financial, Inc. $FNF

Wedge Capital Management L L P NC raised its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 23.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,994 shares of the financial services provider’s stock after buying an additional 134,228 shares during the quarter. Wedge Capital Management L L P NC owned about 0.26% of Fidelity National Financial worth $33,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Commonwealth Retirement Investments LLC bought a new position in shares of Fidelity National Financial during the fourth quarter worth $28,000. Headlands Technologies LLC bought a new stake in Fidelity National Financial in the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC increased its holdings in Fidelity National Financial by 57.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 353 shares during the last quarter. Torren Management LLC purchased a new stake in Fidelity National Financial in the 4th quarter worth $57,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in Fidelity National Financial in the 4th quarter worth $58,000. Institutional investors own 81.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FNF shares. Weiss Ratings restated a “hold (c)” rating on shares of Fidelity National Financial in a research report on Thursday, June 11th. Barclays increased their price target on Fidelity National Financial from $51.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. National Bank Financial set a $54.00 price target on Fidelity National Financial in a report on Friday. Stephens reduced their price objective on Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Finally, Zacks Research cut Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.75.

Insider Buying and Selling

In other Fidelity National Financial news, EVP Peter T. Sadowski sold 69,196 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the sale, the executive vice president owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. This trade represents a 92.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.70% of the company’s stock.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $47.58 on Wednesday. The company has a market cap of $12.76 billion, a P/E ratio of 16.80, a PEG ratio of 0.71 and a beta of 0.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s 50-day moving average is $49.10 and its 200 day moving average is $49.85. Fidelity National Financial, Inc. has a 1-year low of $42.78 and a 1-year high of $61.40.

Fidelity National Financial (NYSE:FNF) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. Fidelity National Financial’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Fidelity National Financial, Inc. will post 5.16 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, September 16th. Fidelity National Financial’s payout ratio is 73.50%.

Fidelity National Financial Company Profile

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.