Confluence Investment Management LLC Sells 48,095 Shares of Fidelity National Financial, Inc. $FNF

Confluence Investment Management LLC decreased its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,908,912 shares of the financial services provider’s stock after selling 48,095 shares during the quarter. Fidelity National Financial comprises approximately 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 27th largest holding. Confluence Investment Management LLC’s holdings in Fidelity National Financial were worth $90,024,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Windacre Partnership LLC grew its holdings in Fidelity National Financial by 31.0% in the third quarter. Windacre Partnership LLC now owns 18,905,100 shares of the financial services provider’s stock worth $1,143,569,000 after purchasing an additional 4,477,900 shares during the period. Norges Bank bought a new position in shares of Fidelity National Financial during the 4th quarter worth about $181,017,000. AQR Capital Management LLC increased its position in Fidelity National Financial by 75.4% in the 3rd quarter. AQR Capital Management LLC now owns 5,057,355 shares of the financial services provider’s stock valued at $304,503,000 after buying an additional 2,174,220 shares in the last quarter. Alliancebernstein L.P. raised its stake in Fidelity National Financial by 368.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,770,685 shares of the financial services provider’s stock worth $99,265,000 after buying an additional 1,392,560 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Fidelity National Financial by 30.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,210,824 shares of the financial services provider’s stock worth $195,287,000 after acquiring an additional 973,891 shares in the last quarter. Institutional investors and hedge funds own 81.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Zacks Research lowered Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Fidelity National Financial in a report on Thursday, June 11th. National Bank Financial set a $51.00 price objective on shares of Fidelity National Financial in a report on Tuesday, July 7th. Keefe, Bruyette & Woods decreased their target price on shares of Fidelity National Financial from $67.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, June 25th. Finally, Barclays raised their price target on shares of Fidelity National Financial from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fidelity National Financial has a consensus rating of “Hold” and an average price target of $56.00.

Fidelity National Financial Stock Performance

Shares of FNF stock opened at $51.65 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a 50-day moving average of $48.77 and a 200-day moving average of $49.96. Fidelity National Financial, Inc. has a one year low of $42.78 and a one year high of $61.40. The company has a market cap of $13.90 billion, a P/E ratio of 18.88, a P/E/G ratio of 0.77 and a beta of 0.95.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.16). The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Fidelity National Financial had a return on equity of 15.49% and a net margin of 5.10%.The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Equities research analysts forecast that Fidelity National Financial, Inc. will post 5.11 EPS for the current fiscal year.

Fidelity National Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, June 16th. Fidelity National Financial’s payout ratio is presently 75.91%.

Insider Activity

In other news, EVP Peter T. Sadowski sold 69,196 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $45.70, for a total value of $3,162,257.20. Following the completion of the transaction, the executive vice president directly owned 5,702 shares of the company’s stock, valued at $260,581.40. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.70% of the stock is currently owned by corporate insiders.

Fidelity National Financial Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.