State Board of Administration of Florida Retirement System increased its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 1.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 362,086 shares of the financial services provider’s stock after acquiring an additional 4,252 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Fidelity National Financial were worth $15,736,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings in Fidelity National Financial by 9.0% during the 1st quarter. BlackRock Inc. now owns 28,352,501 shares of the financial services provider’s stock worth $1,152,812,000 after purchasing an additional 2,335,739 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in Fidelity National Financial by 46.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 3,689,491 shares of the financial services provider’s stock worth $150,015,000 after purchasing an additional 1,178,168 shares during the last quarter. NFJ Investment Group LLC bought a new position in Fidelity National Financial during the 1st quarter worth approximately $38,505,000. Arrowstreet Capital Limited Partnership bought a new position in Fidelity National Financial during the 1st quarter worth approximately $25,234,000. Finally, AQR Capital Management LLC raised its holdings in Fidelity National Financial by 39.6% during the 1st quarter. AQR Capital Management LLC now owns 2,140,802 shares of the financial services provider’s stock worth $87,045,000 after purchasing an additional 607,012 shares during the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.
In related news, COO Roger S. Jewkes sold 36,982 shares of the business’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $49.13, for a total value of $1,816,925.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter T. Sadowski sold 25,000 shares of the business’s stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $44.10, for a total value of $1,102,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock worth $3,559,521 over the last ninety days. Insiders own 5.20% of the company’s stock.
FNF opened at $46.08 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 5.75 and a beta of 1.39. The firm’s fifty day moving average price is $46.58 and its two-hundred day moving average price is $44.89. Fidelity National Financial, Inc. has a 1 year low of $29.82 and a 1 year high of $49.55.
Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Tuesday, August 3rd. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.67. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.04 billion. Fidelity National Financial had a net margin of 17.05% and a return on equity of 25.33%. As a group, equities analysts anticipate that Fidelity National Financial, Inc. will post 6.61 EPS for the current year.
Fidelity National Financial announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 3rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 0.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. This is an increase from Fidelity National Financial’s previous quarterly dividend of $0.36. The ex-dividend date is Wednesday, September 15th. Fidelity National Financial’s payout ratio is currently 29.96%.
Fidelity National Financial Company Profile
Fidelity National Financial, Inc is engaged in the provision of title insurance and transaction services to real estate and mortgage industries. Its services include title insurance, escrow and other title-related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products; and technology and transaction services to the real estate and mortgage industries.
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