Fidelity National Financial, Inc. $FNF Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 1,857,255 shares of the financial services provider’s stock after selling 51,657 shares during the quarter. Fidelity National Financial comprises approximately 1.1% of Confluence Investment Management LLC’s investment portfolio, making the stock its 28th biggest holding. Confluence Investment Management LLC’s holdings in Fidelity National Financial were worth $71,783,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FNF. Norges Bank bought a new stake in Fidelity National Financial during the 4th quarter valued at approximately $181,017,000. Bank of New York Mellon Corp bought a new position in Fidelity National Financial in the 2nd quarter worth approximately $112,882,000. Dimensional Fund Advisors LP increased its position in Fidelity National Financial by 30.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,210,824 shares of the financial services provider’s stock worth $195,287,000 after buying an additional 973,891 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Fidelity National Financial by 70.3% during the first quarter. Hsbc Holdings PLC now owns 896,177 shares of the financial services provider’s stock worth $41,524,000 after buying an additional 369,908 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Fidelity National Financial by 74.4% during the second quarter. Squarepoint Ops LLC now owns 688,380 shares of the financial services provider’s stock worth $32,464,000 after acquiring an additional 293,761 shares during the period. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Price Performance

Shares of FNF traded up $0.38 during trading hours on Thursday, hitting $39.03. The stock had a trading volume of 1,463,700 shares, compared to its average volume of 1,862,967. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.61 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.26 and a quick ratio of 0.26. The company’s fifty day moving average is $46.84 and its two-hundred day moving average is $47.73. Fidelity National Financial, Inc. has a 52 week low of $38.06 and a 52 week high of $60.37.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.79 billion. Fidelity National Financial had a net margin of 5.03% and a return on equity of 16.07%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. On average, analysts anticipate that Fidelity National Financial, Inc. will post 5.18 EPS for the current year.

Fidelity National Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $0.52 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.3%. Fidelity National Financial’s payout ratio is 73.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. National Bank Financial set a $54.00 price target on shares of Fidelity National Financial in a report on Friday, August 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Fidelity National Financial from $64.00 to $61.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fidelity National Financial in a research report on Tuesday, September 8th. Stephens reiterated an “overweight” rating and issued a $55.00 target price on shares of Fidelity National Financial in a research note on Monday, August 24th. Finally, Zacks Research upgraded Fidelity National Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.00.

About Fidelity National Financial

Fidelity National Financial, Inc (NYSE:FNF) is a leading provider of title insurance and transaction services in the United States. Through its title insurance companies, the company helps protect property owners and lenders against losses arising from defects in property titles and supports the closing of residential and commercial real estate transactions.

FNF operates a portfolio of well-known title brands, including Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title.