Royal Bank of Canada Cuts Stock Holdings in Fidelity National Financial, Inc. $FNF

Royal Bank of Canada cut its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 21.8% during the 1st quarter, Holdings Channel reports. The firm owned 1,371,271 shares of the financial services provider’s stock after selling 383,116 shares during the quarter. Royal Bank of Canada’s holdings in Fidelity National Financial were worth $63,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Crossmark Global Holdings Inc. grew its position in Fidelity National Financial by 1.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 17,542 shares of the financial services provider’s stock valued at $958,000 after buying an additional 192 shares during the period. Kera Capital Partners Inc. lifted its stake in shares of Fidelity National Financial by 6.1% during the 4th quarter. Kera Capital Partners Inc. now owns 3,946 shares of the financial services provider’s stock valued at $215,000 after buying an additional 228 shares in the last quarter. Fiduciary Trust Co boosted its holdings in Fidelity National Financial by 2.0% in the 3rd quarter. Fiduciary Trust Co now owns 11,813 shares of the financial services provider’s stock worth $715,000 after buying an additional 228 shares during the period. Brooklyn Investment Group grew its stake in Fidelity National Financial by 2.1% in the 4th quarter. Brooklyn Investment Group now owns 11,272 shares of the financial services provider’s stock valued at $621,000 after buying an additional 231 shares in the last quarter. Finally, 44 Wealth Management LLC grew its stake in Fidelity National Financial by 1.7% in the 4th quarter. 44 Wealth Management LLC now owns 15,090 shares of the financial services provider’s stock valued at $824,000 after buying an additional 255 shares in the last quarter. Institutional investors own 81.17% of the company’s stock.

Insider Buying and Selling at Fidelity National Financial

In other news, EVP Peter T. Sadowski sold 69,196 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $45.70, for a total value of $3,162,257.20. Following the transaction, the executive vice president owned 5,702 shares of the company’s stock, valued at approximately $260,581.40. This represents a 92.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.70% of the company’s stock.

Fidelity National Financial Price Performance

FNF stock opened at $51.67 on Friday. The firm has a 50 day moving average of $48.71 and a 200-day moving average of $49.98. The firm has a market capitalization of $13.91 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.96. Fidelity National Financial, Inc. has a 12 month low of $42.78 and a 12 month high of $61.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.50.

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

Fidelity National Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.52 per share. 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 75.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FNF shares. Zacks Research downgraded Fidelity National Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Keefe, Bruyette & Woods reduced their price target on 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. National Bank Financial set a $51.00 price objective on Fidelity National Financial in a research note on Tuesday, July 7th. Stephens decreased their price objective on 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Fidelity National Financial in a report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.00.

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.