Capital Asset Advisory Services LLC acquired a new stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,700 shares of the financial services provider’s stock, valued at approximately $106,000.
A number of other large investors have also recently added to or reduced their stakes in FNF. Baupost Group LLC MA bought a new stake in Fidelity National Financial during the 4th quarter valued at about $148,542,000. Assenagon Asset Management S.A. bought a new stake in Fidelity National Financial during the 4th quarter valued at about $94,891,000. Windacre Partnership LLC increased its stake in Fidelity National Financial by 14.5% during the 3rd quarter. Windacre Partnership LLC now owns 13,686,900 shares of the financial services provider’s stock valued at $428,537,000 after purchasing an additional 1,729,700 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Fidelity National Financial by 114.9% in the third quarter. Point72 Asset Management L.P. now owns 2,611,082 shares of the financial services provider’s stock worth $81,753,000 after acquiring an additional 1,396,342 shares during the period. Finally, Owl Creek Asset Management L.P. grew its stake in shares of Fidelity National Financial by 130.9% in the fourth quarter. Owl Creek Asset Management L.P. now owns 1,627,717 shares of the financial services provider’s stock worth $63,627,000 after acquiring an additional 922,801 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.
In other news, CEO Raymond R. Quirk sold 116,320 shares of the business’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $39.36, for a total value of $4,578,355.20. Also, President Michael Joseph Nolan sold 76,014 shares of the business’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $40.89, for a total transaction of $3,108,212.46. Following the completion of the transaction, the president now directly owns 346,525 shares in the company, valued at approximately $14,169,407.25. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.
Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Wednesday, February 24th. The financial services provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.69. Fidelity National Financial had a net margin of 10.31% and a return on equity of 20.07%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, sell-side analysts anticipate that Fidelity National Financial, Inc. will post 4.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, March 16th. Fidelity National Financial’s dividend payout ratio is currently 42.48%.
Separately, Zacks Investment Research upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Fidelity National Financial currently has a consensus rating of “Buy” and a consensus price target of $39.80.
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 insurance.
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