Fidelity National Financial, Inc. (NYSE:FNF) Position Increased by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System raised its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 1.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 362,086 shares of the financial services provider’s stock after buying an additional 4,252 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of Fidelity National Financial worth $15,736,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Fidelity National Financial by 9.0% in the 1st quarter. BlackRock Inc. now owns 28,352,501 shares of the financial services provider’s stock worth $1,152,812,000 after purchasing an additional 2,335,739 shares during the period. River Road Asset Management LLC boosted its stake in Fidelity National Financial by 7.0% in the 1st quarter. River Road Asset Management LLC now owns 6,197,207 shares of the financial services provider’s stock worth $251,978,000 after purchasing an additional 405,605 shares during the period. DAVENPORT & Co LLC boosted its stake in Fidelity National Financial by 3.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 4,158,289 shares of the financial services provider’s stock worth $180,719,000 after purchasing an additional 146,124 shares during the period. Geode Capital Management LLC boosted its stake in Fidelity National Financial by 9.7% in the 1st quarter. Geode Capital Management LLC now owns 3,971,449 shares of the financial services provider’s stock worth $161,303,000 after purchasing an additional 351,536 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in Fidelity National Financial by 46.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 3,689,491 shares of the financial services provider’s stock worth $150,015,000 after purchasing an additional 1,178,168 shares during the period. 78.40% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:FNF opened at $46.08 on Friday. The firm has a fifty day moving average of $46.58 and a two-hundred day moving average of $44.89. The firm has a market capitalization of $13.15 billion, a P/E ratio of 5.75 and a beta of 1.39. Fidelity National Financial, Inc. has a 12-month low of $29.82 and a 12-month high of $49.55. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.30.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Tuesday, August 3rd. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.67. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.04 billion. Fidelity National Financial had a net margin of 17.05% and a return on equity of 25.33%. Equities research analysts expect that Fidelity National Financial, Inc. will post 6.61 earnings per share for the current fiscal year.

Fidelity National Financial announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 3rd that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 0.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.36. Fidelity National Financial’s dividend payout ratio (DPR) is currently 29.96%.

In other news, COO Roger S. Jewkes sold 36,982 shares of the firm’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $49.13, for a total transaction of $1,816,925.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter T. Sadowski sold 25,000 shares of the firm’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $44.10, for a total transaction of $1,102,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock worth $3,559,521 in the last 90 days. 5.20% of the stock is owned by insiders.

A number of equities analysts recently commented on FNF shares. Barclays raised their price objective on shares of Fidelity National Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a research note on Monday, August 9th.

About Fidelity National Financial

Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to real estate and mortgage industries. Its services include title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products; and technology and transaction services to the real estate and mortgage industries.

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

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