Edge Asset Management Inc. Increases Stake in FNF Group of Fidelity National Financial, Inc. (FNF)

Edge Asset Management Inc. Increases Stake in FNF Group of Fidelity National Financial, Inc. (FNF)

Several other hedge funds and other institutional investors have also recently modified their holdings of FNF. Orbis Allan Gray Ltd raised its position in shares of FNF Group of Fidelity National Financial by 49.7% in the fourth quarter. Orbis Allan Gray Ltd now owns 6,220,056 shares of the financial services provider’s stock valued at $211,233,000 after buying an additional 2,065,395 shares during the period. Renaissance Technologies LLC raised its position in shares of FNF Group of Fidelity National Financial by 394.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,793,415 shares of the financial services provider’s stock valued at $60,904,000 after buying an additional 1,430,715 shares during the period. State Street Corp raised its position in shares of FNF Group of Fidelity National Financial by 15.8% in the fourth quarter. State Street Corp now owns 5,697,188 shares of the financial services provider’s stock valued at $193,482,000 after buying an additional 776,690 shares during the period. Hahn Capital Management LLC purchased a new position in shares of FNF Group of Fidelity National Financial during the third quarter valued at $25,973,000. Finally, American Century Companies Inc. purchased a new position in shares of FNF Group of Fidelity National Financial during the first quarter valued at $26,861,000. 86.50% of the stock is currently owned by institutional investors and hedge funds.

Edge Asset Management Inc. boosted its stake in FNF Group of Fidelity National Financial, Inc. (NYSE:FNF) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,519,623 shares of the financial services provider’s stock after buying an additional 59,689 shares during the period. FNF Group of Fidelity National Financial accounts for 2.2% of Edge Asset Management Inc.’s holdings, making the stock its 2nd largest position. Edge Asset Management Inc.’s holdings in FNF Group of Fidelity National Financial were worth $292,814,000 at the end of the most recent quarter.

FNF Group of Fidelity National Financial, Inc. (FNF) traded down 0.73% on Tuesday, reaching $42.11. The company’s stock had a trading volume of 1,439,083 shares. FNF Group of Fidelity National Financial, Inc. has a 1-year low of $31.64 and a 1-year high of $42.49. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 18.06 and a beta of 0.80. The stock has a 50 day moving average price of $40.44 and a 200-day moving average price of $36.80.

FNF Group of Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.74 billion. FNF Group of Fidelity National Financial had a net margin of 7.51% and a return on equity of 10.61%. FNF Group of Fidelity National Financial’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. Equities analysts predict that FNF Group of Fidelity National Financial, Inc. will post $2.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, June 14th. FNF Group of Fidelity National Financial’s dividend payout ratio is presently 42.74%.

Several research analysts recently weighed in on FNF shares. Zacks Investment Research raised FNF Group of Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $38.00 target price on shares of FNF Group of Fidelity National Financial in a research report on Wednesday, April 19th. Finally, Monness Crespi & Hardt increased their target price on FNF Group of Fidelity National Financial from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $44.20.

In related news, CFO Anthony Park sold 138,941 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $41.28, for a total value of $5,735,484.48. Following the completion of the sale, the chief financial officer now directly owns 228,280 shares in the company, valued at $9,423,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter T. Sadowski sold 17,288 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $38.75, for a total transaction of $669,910.00. The disclosure for this sale can be found here. Insiders sold 183,326 shares of company stock valued at $7,448,900 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

FNF Group of Fidelity National Financial Company Profile

Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FNF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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