Everence Capital Management Inc. Buys New Position in Fidelity National Financial, Inc. (NYSE:FNF)

Everence Capital Management Inc. purchased a new position in shares of Fidelity National Financial, Inc. (NYSE:FNF) during the fourth quarter, Holdings Channel.com reports. The fund purchased 11,060 shares of the financial services provider’s stock, valued at approximately $621,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Fidelity National Financial by 19.8% during the fourth quarter. GAMMA Investing LLC now owns 7,458 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 1,233 shares during the period. Versant Capital Management Inc increased its position in shares of Fidelity National Financial by 17.1% during the 4th quarter. Versant Capital Management Inc now owns 1,729 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 252 shares during the period. Tidal Investments LLC raised its stake in shares of Fidelity National Financial by 38.9% in the 3rd quarter. Tidal Investments LLC now owns 6,756 shares of the financial services provider’s stock worth $419,000 after buying an additional 1,892 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Fidelity National Financial in the third quarter valued at $672,000. Finally, Sanctuary Advisors LLC boosted its stake in Fidelity National Financial by 136.9% during the third quarter. Sanctuary Advisors LLC now owns 157,438 shares of the financial services provider’s stock valued at $9,752,000 after buying an additional 90,968 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Stock Up 1.5 %

FNF stock opened at $56.82 on Friday. The company’s 50 day simple moving average is $59.77 and its 200-day simple moving average is $57.54. Fidelity National Financial, Inc. has a 52-week low of $46.85 and a 52-week high of $64.83. 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 has a market capitalization of $15.55 billion, a P/E ratio of 20.66 and a beta of 1.36.

Fidelity National Financial (NYSE:FNF) last released 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 business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the previous year, the company earned $1.23 EPS. Fidelity National Financial’s revenue for the quarter was up 29.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fidelity National Financial, Inc. will post 4.57 EPS for the current year.

Fidelity National Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.52%. The ex-dividend date was Tuesday, December 17th. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s payout ratio is 72.73%.

Insider Activity

In related news, Director Sandra Douglass Morgan sold 2,092 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $56.33, for a total transaction of $117,842.36. Following the transaction, the director now directly owns 32,386 shares of the company’s stock, valued at approximately $1,824,303.38. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FNF shares. Deutsche Bank Aktiengesellschaft raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $76.00 to $77.00 in a report on Friday. Barclays increased their target price on shares of Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on Fidelity National Financial from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Tuesday, December 10th. Finally, Truist Financial raised their price objective on Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Fidelity National Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.60.

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.