MAI Capital Management cut its holdings in Fidelity National Financial Inc (NYSE:FNF) by 13.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 39,428 shares of the financial services provider’s stock after selling 6,077 shares during the quarter. MAI Capital Management’s holdings in Fidelity National Financial were worth $1,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNF. Franklin Resources Inc. boosted its position in Fidelity National Financial by 57.1% during the first quarter. Franklin Resources Inc. now owns 52,543 shares of the financial services provider’s stock worth $2,103,000 after purchasing an additional 19,105 shares in the last quarter. Stifel Financial Corp increased its stake in Fidelity National Financial by 34.4% during the first quarter. Stifel Financial Corp now owns 12,590 shares of the financial services provider’s stock worth $506,000 after acquiring an additional 3,223 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Fidelity National Financial during the first quarter worth about $643,000. Principal Financial Group Inc. increased its stake in Fidelity National Financial by 3.0% during the first quarter. Principal Financial Group Inc. now owns 17,034,893 shares of the financial services provider’s stock worth $681,736,000 after acquiring an additional 500,930 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Fidelity National Financial during the first quarter worth about $413,000. Institutional investors own 82.45% of the company’s stock.

Shares of NYSE:FNF opened at $35.05 on Friday. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 15.44 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. Fidelity National Financial Inc has a 12 month low of $34.00 and a 12 month high of $42.52.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. Fidelity National Financial had a return on equity of 15.29% and a net margin of 9.82%. The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. Research analysts predict that Fidelity National Financial Inc will post 2.82 EPS for the current fiscal year.

Fidelity National Financial announced that its board has initiated a share repurchase plan on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. Fidelity National Financial’s dividend payout ratio (DPR) is currently 52.86%.

In other news, COO Roger S. Jewkes sold 43,409 shares of the stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $39.79, for a total value of $1,727,244.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cary H. Thompson sold 85,639 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $40.10, for a total value of $3,434,123.90. Following the completion of the sale, the director now owns 74,000 shares of the company’s stock, valued at approximately $2,967,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 221,548 shares of company stock valued at $8,875,866. Insiders own 6.10% of the company’s stock.

Several equities research analysts have commented on the company. Zacks Investment Research upgraded Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. ValuEngine upgraded Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods upgraded Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research note on Monday, July 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fidelity National Financial currently has an average rating of “Buy” and a consensus target price of $43.50.

Fidelity National Financial Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries 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 collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Fidelity National Financial (NYSE:FNF)

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