Schwab Charles Investment Management Inc. Has $53.20 Million Holdings in Fidelity National Financial Inc (FNF)

Schwab Charles Investment Management Inc. raised its position in Fidelity National Financial Inc (NYSE:FNF) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,414,209 shares of the financial services provider’s stock after purchasing an additional 116,732 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Fidelity National Financial were worth $53,203,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Canada Pension Plan Investment Board increased its position in shares of Fidelity National Financial by 53.9% in the second quarter. Canada Pension Plan Investment Board now owns 742,449 shares of the financial services provider’s stock valued at $27,931,000 after acquiring an additional 259,991 shares during the period. Teacher Retirement System of Texas increased its position in shares of Fidelity National Financial by 177.0% in the second quarter. Teacher Retirement System of Texas now owns 210,917 shares of the financial services provider’s stock valued at $7,935,000 after acquiring an additional 134,765 shares during the period. Mackay Shields LLC increased its position in shares of Fidelity National Financial by 153.2% in the second quarter. Mackay Shields LLC now owns 189,094 shares of the financial services provider’s stock valued at $7,114,000 after acquiring an additional 114,418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Fidelity National Financial by 204.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 270,661 shares of the financial services provider’s stock valued at $10,182,000 after acquiring an additional 181,631 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Fidelity National Financial by 4.3% in the second quarter. Nomura Asset Management Co. Ltd. now owns 42,621 shares of the financial services provider’s stock valued at $1,603,000 after acquiring an additional 1,776 shares during the period. 82.48% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Brent B. Bickett sold 50,000 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $40.68, for a total transaction of $2,034,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anthony Park sold 55,779 shares of the business’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $36.99, for a total transaction of $2,063,265.21. The disclosure for this sale can be found here. Insiders have sold 191,688 shares of company stock worth $7,505,007 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Shares of NYSE FNF opened at $40.63 on Monday. Fidelity National Financial Inc has a 1 year low of $32.67 and a 1 year high of $42.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $11.17 billion, a P/E ratio of 17.90 and a beta of 0.84.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Fidelity National Financial had a net margin of 9.82% and a return on equity of 15.29%. The company had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. Fidelity National Financial’s quarterly revenue was up 3.0% on a year-over-year basis. equities analysts predict that Fidelity National Financial Inc will post 2.82 EPS for the current fiscal year.

Fidelity National Financial announced that its board has approved a stock repurchase program on Tuesday, July 17th that allows the company to buyback 25,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, September 13th. Fidelity National Financial’s dividend payout ratio is currently 52.86%.

A number of equities analysts have issued reports on FNF shares. Zacks Investment Research upgraded shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, May 23rd. Keefe, Bruyette & Woods upgraded shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Monday, July 16th. Finally, ValuEngine cut shares of Fidelity National Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.50.

About Fidelity National Financial

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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Institutional Ownership by Quarter for Fidelity National Financial (NYSE:FNF)

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