PNC Financial Services Group Inc. Decreases Stock Position in Fidelity National Financial, Inc. (NYSE:FNF)

PNC Financial Services Group Inc. decreased its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.5% during the third quarter, Holdings Channel.com reports. The fund owned 420,284 shares of the financial services provider’s stock after selling 10,779 shares during the period. PNC Financial Services Group Inc.’s holdings in Fidelity National Financial were worth $26,083,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its position in Fidelity National Financial by 109.0% during the 1st quarter. Covestor Ltd now owns 581 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 303 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Fidelity National Financial by 8.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 18,827 shares of the financial services provider’s stock worth $1,000,000 after buying an additional 1,470 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of Fidelity National Financial by 94.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the financial services provider’s stock valued at $196,000 after buying an additional 1,800 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Fidelity National Financial by 54.1% in the 1st quarter. CreativeOne Wealth LLC now owns 10,129 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 3,557 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in Fidelity National Financial by 26.2% in the 1st quarter. EP Wealth Advisors LLC now owns 5,450 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 1,133 shares during the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

Insiders Place Their Bets

In related news, Director Halim Dhanidina sold 1,700 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total value of $103,445.00. Following the transaction, the director now directly owns 13,206 shares of the company’s stock, valued at approximately $803,585.10. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Fidelity National Financial Price Performance

Shares of NYSE FNF opened at $60.66 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.24 and a quick ratio of 0.24. The firm’s 50 day simple moving average is $60.63 and its 200-day simple moving average is $55.66. Fidelity National Financial, Inc. has a 12 month low of $44.10 and a 12 month high of $62.97. The stock has a market capitalization of $16.60 billion, a price-to-earnings ratio of 22.06 and a beta of 1.37.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the firm posted $1.23 EPS. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. Analysts expect that Fidelity National Financial, Inc. will post 4.5 EPS for the current year.

Fidelity National Financial Increases Dividend

The firm also recently declared 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 is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, December 17th. This represents a $2.00 dividend on an annualized basis and a yield of 3.30%. Fidelity National Financial’s dividend payout ratio is presently 69.82%.

Fidelity National Financial Company 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.