JPMorgan Chase & Co. Sells 115,552 Shares of Fidelity National Financial, Inc. $FNF

JPMorgan Chase & Co. reduced its holdings in Fidelity National Financial, Inc. (NYSE:FNF) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,055,400 shares of the financial services provider’s stock after selling 115,552 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of Fidelity National Financial worth $63,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNF. Norges Bank bought a new stake in shares of Fidelity National Financial in the 2nd quarter valued at $189,685,000. First Trust Advisors LP boosted its position in shares of Fidelity National Financial by 252.4% during the 2nd quarter. First Trust Advisors LP now owns 3,379,555 shares of the financial services provider’s stock worth $189,458,000 after purchasing an additional 2,420,421 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Fidelity National Financial by 368.3% in the 2nd quarter. Alliancebernstein L.P. now owns 1,770,685 shares of the financial services provider’s stock valued at $99,265,000 after buying an additional 1,392,560 shares during the period. AQR Capital Management LLC raised its stake in Fidelity National Financial by 44.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,883,135 shares of the financial services provider’s stock worth $161,629,000 after buying an additional 891,088 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Fidelity National Financial by 2.1% in the second quarter. Vanguard Group Inc. now owns 27,755,047 shares of the financial services provider’s stock worth $1,555,948,000 after acquiring an additional 580,133 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Trading Up 1.8%

Shares of FNF stock opened at $51.95 on Wednesday. Fidelity National Financial, Inc. has a 52-week low of $50.56 and a 52-week high of $66.72. The company has a 50-day simple moving average of $54.81 and a two-hundred day simple moving average of $57.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.25 and a current ratio of 44.61. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 0.66 and a beta of 0.98.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Thursday, February 19th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.10). The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.66 billion. Fidelity National Financial had a net margin of 4.17% and a return on equity of 15.73%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.34 earnings per share. Research analysts anticipate that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. Fidelity National Financial’s dividend payout ratio (DPR) is currently 97.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stephens initiated coverage on Fidelity National Financial in a research report on Friday, November 14th. They set an “overweight” rating on the stock. Barclays reduced their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Keefe, Bruyette & Woods upped their target price on shares of Fidelity National Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fidelity National Financial in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.33.

Insider Activity at Fidelity National Financial

In other news, Director Halim Dhanidina sold 6,000 shares of Fidelity National Financial stock in a transaction on Monday, January 5th. The stock was sold at an average price of $55.90, for a total transaction of $335,400.00. Following the sale, the director directly owned 13,186 shares in the company, valued at $737,097.40. The trade was a 31.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.50% of the stock is owned by insiders.

About Fidelity National Financial

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.