Norges Bank Makes New $181.02 Million Investment in Fidelity National Financial, Inc. $FNF

Norges Bank acquired a new position in Fidelity National Financial, Inc. (NYSE:FNF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,315,942 shares of the financial services provider’s stock, valued at approximately $181,017,000.

A number of other institutional investors have also added to or reduced their stakes in FNF. Goldman Sachs Group Inc. boosted its stake in Fidelity National Financial by 8.1% in the first quarter. Goldman Sachs Group Inc. now owns 629,616 shares of the financial services provider’s stock valued at $40,975,000 after acquiring an additional 47,267 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Fidelity National Financial by 141.9% in the first quarter. Acadian Asset Management LLC now owns 14,478 shares of the financial services provider’s stock valued at $941,000 after acquiring an additional 8,494 shares during the last quarter. Invesco Ltd. boosted its stake in Fidelity National Financial by 2.0% in the second quarter. Invesco Ltd. now owns 820,180 shares of the financial services provider’s stock valued at $45,979,000 after acquiring an additional 16,440 shares during the last quarter. Brown Advisory Inc. purchased a new position in Fidelity National Financial in the second quarter valued at about $339,000. Finally, Daiwa Securities Group Inc. boosted its stake in Fidelity National Financial by 2.4% in the second quarter. Daiwa Securities Group Inc. now owns 21,396 shares of the financial services provider’s stock valued at $1,199,000 after acquiring an additional 500 shares during the last quarter. 81.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on FNF shares. National Bank Financial set a $50.00 target price on shares of Fidelity National Financial in a research note on Monday, May 11th. Stephens dropped their target price on shares of Fidelity National Financial from $61.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Zacks Research cut shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Weiss Ratings cut shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Finally, Barclays dropped their target price on shares of Fidelity National Financial from $54.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.25.

Fidelity National Financial Stock Performance

Shares of FNF stock opened at $45.47 on Thursday. The stock has a market capitalization of $12.24 billion, a P/E ratio of 16.62, a PEG ratio of 0.67 and a beta of 0.96. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50. The firm’s 50 day moving average is $48.37 and its 200 day moving average is $52.27. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month high of $61.40.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.16). The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Fidelity National Financial had a net margin of 5.10% and a return on equity of 15.49%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, sell-side analysts anticipate that Fidelity National Financial, Inc. will post 5.3 earnings per share for the current year.

Fidelity National Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, June 16th. Fidelity National Financial’s dividend payout ratio is presently 75.91%.

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.