Bank of New York Mellon Corp Reduces Position in Fidelity National Financial, Inc. (NYSE:FNF)

Bank of New York Mellon Corp lessened its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,204,339 shares of the financial services provider’s stock after selling 78,135 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fidelity National Financial were worth $158,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FNF. International Assets Investment Management LLC purchased a new position in shares of Fidelity National Financial in the 4th quarter valued at approximately $1,669,000. GAMMA Investing LLC acquired a new stake in shares of Fidelity National Financial in the 4th quarter valued at approximately $97,000. Paradigm Financial Partners LLC acquired a new stake in shares of Fidelity National Financial in the 4th quarter valued at approximately $785,000. Retirement Systems of Alabama lifted its holdings in shares of Fidelity National Financial by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 323,821 shares of the financial services provider’s stock valued at $16,521,000 after buying an additional 975 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Fidelity National Financial by 5.0% in the 4th quarter. Gilbert & Cook Inc. now owns 6,118 shares of the financial services provider’s stock valued at $312,000 after buying an additional 293 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on FNF shares. Stephens reissued an “overweight” rating and issued a $63.00 price target on shares of Fidelity National Financial in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $53.00 price objective on shares of Fidelity National Financial in a report on Tuesday, August 6th. Truist Financial lifted their price objective on Fidelity National Financial from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.80.

Insider Buying and Selling at Fidelity National Financial

In other Fidelity National Financial news, CFO Anthony Park sold 85,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $50.82, for a total transaction of $4,319,700.00. Following the completion of the sale, the chief financial officer now owns 99,049 shares of the company’s stock, valued at $5,033,670.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.20% of the stock is owned by company insiders.

Fidelity National Financial Stock Performance

Fidelity National Financial stock opened at $59.08 on Tuesday. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 19.43 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.21 and a current ratio of 0.21. Fidelity National Financial, Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $59.39. The stock has a fifty day moving average of $52.92 and a two-hundred day moving average of $51.52.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.03). The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. Fidelity National Financial’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. On average, analysts anticipate that Fidelity National Financial, Inc. will post 4.58 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, September 16th. Fidelity National Financial’s dividend payout ratio is currently 63.16%.

Fidelity National Financial Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.