Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 620,223 shares of the financial services provider’s stock after selling 5,784 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Fidelity National Financial were worth $38,491,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in Fidelity National Financial by 49.0% during the 1st quarter. Advisors Asset Management Inc. now owns 39,644 shares of the financial services provider’s stock valued at $2,105,000 after acquiring an additional 13,039 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Fidelity National Financial in the first quarter worth about $1,494,000. Cetera Investment Advisers grew its stake in Fidelity National Financial by 117.9% in the first quarter. Cetera Investment Advisers now owns 44,417 shares of the financial services provider’s stock worth $2,359,000 after purchasing an additional 24,034 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Fidelity National Financial by 85.1% in the first quarter. Russell Investments Group Ltd. now owns 131,200 shares of the financial services provider’s stock valued at $6,965,000 after buying an additional 60,306 shares during the last quarter. Finally, M&G Plc acquired a new stake in Fidelity National Financial during the second quarter valued at approximately $629,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Insider Buying and Selling

In other Fidelity National Financial news, Director Halim Dhanidina sold 1,700 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $60.85, for a total transaction of $103,445.00. Following the completion of the transaction, the director now owns 13,206 shares in the company, valued at approximately $803,585.10. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.20% of the company’s stock.

Fidelity National Financial Stock Performance

Shares of FNF opened at $60.74 on Friday. The firm has a fifty day moving average of $60.48 and a 200-day moving average of $55.38. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 22.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. Fidelity National Financial, Inc. has a 1 year low of $43.97 and a 1 year high of $62.97.

Fidelity National Financial (NYSE:FNF) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, equities analysts anticipate that Fidelity National Financial, Inc. will post 4.5 earnings per share for the current year.

Fidelity National Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.29%. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, December 17th. Fidelity National Financial’s dividend payout ratio is 69.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FNF. Keefe, Bruyette & Woods lifted their target price on Fidelity National Financial from $58.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 4th. Stephens reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Fidelity National Financial in a report on Thursday, August 15th. Truist Financial increased their target price on shares of Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays lifted their price target on shares of Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.60.

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.