Wellington Management Group LLP Sells 22,294 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Wellington Management Group LLP decreased its position in Fidelity National Financial, Inc. (NYSE:FNF) by 76.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,755 shares of the financial services provider’s stock after selling 22,294 shares during the period. Wellington Management Group LLP’s holdings in Fidelity National Financial were worth $419,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. TPG GP A LLC bought a new stake in Fidelity National Financial in the 2nd quarter worth $83,798,000. Victory Capital Management Inc. boosted its holdings in shares of Fidelity National Financial by 8.5% during the second quarter. Victory Capital Management Inc. now owns 8,181,554 shares of the financial services provider’s stock worth $404,332,000 after purchasing an additional 640,829 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Fidelity National Financial by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,025,159 shares of the financial services provider’s stock worth $498,041,000 after purchasing an additional 289,962 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Fidelity National Financial during the 3rd quarter valued at about $11,469,000. Finally, Cooke & Bieler LP raised its position in Fidelity National Financial by 3.2% during the 2nd quarter. Cooke & Bieler LP now owns 5,937,596 shares of the financial services provider’s stock valued at $293,436,000 after purchasing an additional 184,078 shares during the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $56.11 on Friday. The business’s fifty day moving average is $60.73 and its 200 day moving average is $57.04. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 20.40 and a beta of 1.36. Fidelity National Financial, Inc. has a twelve month low of $46.85 and a twelve month high of $64.83.

Fidelity National Financial (NYSE:FNF) last released its earnings results 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 return on equity of 13.72% and a net margin of 5.57%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. Research analysts expect that Fidelity National Financial, Inc. will post 4.57 EPS for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.50 per share. This is an increase 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 dividend yield of 3.56%. Fidelity National Financial’s dividend payout ratio (DPR) is currently 72.73%.

Wall Street Analyst Weigh In

FNF has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of 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 upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.80.

About Fidelity National Financial

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.