Bank of New York Mellon Corp Has $164.82 Million Stock Position in Fidelity National Financial, Inc. $FNF

Bank of New York Mellon Corp reduced its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,724,665 shares of the financial services provider’s stock after selling 86,865 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fidelity National Financial were worth $164,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. National Bankshares set a $63.00 price objective on Fidelity National Financial in a report on Tuesday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Fidelity National Financial from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fidelity National Financial in a report on Monday, December 29th. 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. Finally, Wall Street Zen cut shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.25.

Fidelity National Financial Stock Down 0.2%

Shares of NYSE FNF opened at $54.37 on Friday. Fidelity National Financial, Inc. has a 52-week low of $50.61 and a 52-week high of $66.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.25 and a current ratio of 0.25. The business has a fifty day moving average of $55.73 and a two-hundred day moving average of $57.13. The stock has a market cap of $15.29 billion, a PE ratio of 13.11, a PEG ratio of 0.69 and a beta of 1.00.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Monday, November 10th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.20. Fidelity National Financial had a net margin of 8.34% and a return on equity of 15.06%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $1.30 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, December 17th. Fidelity National Financial’s dividend payout ratio is presently 50.12%.

Insider Activity at Fidelity National Financial

In other Fidelity National Financial news, Director Daniel D. Lane sold 6,367 shares of Fidelity National Financial stock in a transaction on Monday, November 17th. The stock was sold at an average price of $57.63, for a total value of $366,930.21. Following the completion of the transaction, the director owned 276,308 shares in the company, valued at approximately $15,923,630.04. The trade was a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Halim Dhanidina sold 6,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $55.90, for a total value of $335,400.00. Following the completion of the transaction, the director directly owned 13,186 shares in the company, valued at approximately $737,097.40. This represents a 31.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.50% of the stock is owned by insiders.

Fidelity National Financial Company 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.