PGGM Investments increased its stake in Fidelity National Financial Inc (NYSE:FNF) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,212,137 shares of the financial services provider’s stock after buying an additional 91,437 shares during the period. PGGM Investments owned 0.44% of Fidelity National Financial worth $48,849,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in FNF. Miller Howard Investments Inc. NY raised its stake in Fidelity National Financial by 92.1% in the first quarter. Miller Howard Investments Inc. NY now owns 2,112,678 shares of the financial services provider’s stock worth $77,218,000 after buying an additional 1,013,138 shares in the last quarter. Wells Fargo & Company MN raised its stake in Fidelity National Financial by 15.9% in the first quarter. Wells Fargo & Company MN now owns 6,095,081 shares of the financial services provider’s stock worth $222,776,000 after buying an additional 836,632 shares in the last quarter. Strycker View Capital LLC bought a new position in Fidelity National Financial in the first quarter worth about $20,818,000. Victory Capital Management Inc. raised its stake in Fidelity National Financial by 8.8% in the first quarter. Victory Capital Management Inc. now owns 6,149,597 shares of the financial services provider’s stock worth $224,768,000 after buying an additional 498,583 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Fidelity National Financial by 59.4% in the first quarter. Teacher Retirement System of Texas now owns 1,078,111 shares of the financial services provider’s stock worth $39,405,000 after buying an additional 401,577 shares in the last quarter. 82.85% of the stock is owned by institutional investors.
FNF has been the subject of a number of research reports. SunTrust Banks increased their price target on shares of Fidelity National Financial to $45.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Susquehanna Bancshares initiated coverage on shares of Fidelity National Financial in a research note on Wednesday, June 19th. They issued a “positive” rating and a $48.00 price target for the company. Zacks Investment Research raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, June 5th. Keefe, Bruyette & Woods raised their target price on shares of Fidelity National Financial from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Compass Point raised shares of Fidelity National Financial from a “neutral” rating to a “buy” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Fidelity National Financial presently has a consensus rating of “Buy” and a consensus price target of $45.82.
Fidelity National Financial (NYSE:FNF) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.08. Fidelity National Financial had a net margin of 9.84% and a return on equity of 16.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that Fidelity National Financial Inc will post 2.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, September 13th. Fidelity National Financial’s dividend payout ratio is 45.93%.
About Fidelity National Financial
Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products 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 trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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