Norges Bank Buys New Shares in Fidelity National Financial, Inc. $FNF

Norges Bank bought a new stake in Fidelity National Financial, Inc. (NYSE:FNF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,315,942 shares of the financial services provider’s stock, valued at approximately $181,017,000. Norges Bank owned 1.18% of Fidelity National Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Canton Hathaway LLC acquired a new position in shares of Fidelity National Financial during the fourth quarter valued at about $26,000. Atlantic Union Bankshares Corp raised its holdings in shares of Fidelity National Financial by 997.7% during the third quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 429 shares during the period. Headlands Technologies LLC acquired a new position in shares of Fidelity National Financial during the second quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Fidelity National Financial by 57.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 970 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 353 shares during the period. Finally, Torren Management LLC acquired a new position in shares of Fidelity National Financial during the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

Fidelity National Financial Trading Down 2.1%

NYSE:FNF opened at $45.47 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a 50-day moving average of $48.37 and a 200-day moving average of $52.27. The company has a market cap of $12.24 billion, a PE ratio of 16.62, a PEG ratio of 0.67 and a beta of 0.96. Fidelity National Financial, Inc. has a one year low of $42.78 and a one year high of $61.40.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.93 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, equities research analysts expect that Fidelity National Financial, Inc. will post 5.3 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

FNF has been the topic of several research reports. Zacks Research lowered shares of Fidelity National Financial from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. National Bank Financial set a $50.00 price objective on shares of Fidelity National Financial in a report on Monday, May 11th. Weiss Ratings lowered shares of Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Keefe, Bruyette & Woods decreased their target price on shares of Fidelity National Financial from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, April 10th. Finally, Barclays decreased their target price on shares of Fidelity National Financial from $54.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.25.

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.