Confluence Investment Management LLC Reduces Stock Holdings in Fidelity National Financial, Inc. (NYSE:FNF)

Confluence Investment Management LLC reduced its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,332,565 shares of the financial services provider’s stock after selling 56,954 shares during the quarter. Fidelity National Financial makes up about 1.9% of Confluence Investment Management LLC’s holdings, making the stock its 13th biggest holding. Confluence Investment Management LLC owned about 0.85% of Fidelity National Financial worth $144,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Fidelity National Financial in the second quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new position in shares of Fidelity National Financial during the 1st quarter worth approximately $30,000. Covestor Ltd raised its position in shares of Fidelity National Financial by 109.0% in the 1st quarter. Covestor Ltd now owns 581 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 303 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Fidelity National Financial in the 2nd quarter valued at approximately $35,000. Finally, Innealta Capital LLC bought a new stake in shares of Fidelity National Financial during the second quarter valued at approximately $43,000. 81.17% of the stock is currently owned by institutional investors.

Fidelity National Financial Price Performance

Shares of FNF opened at $59.12 on Friday. The company has a market capitalization of $16.17 billion, a P/E ratio of 17.65 and a beta of 1.37. Fidelity National Financial, Inc. has a twelve month low of $42.21 and a twelve month high of $62.97. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $60.27 and a 200 day moving average of $54.92.

Fidelity National Financial (NYSE:FNF) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.32 billion. Fidelity National Financial had a return on equity of 14.48% and a net margin of 7.19%. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. As a group, equities research analysts anticipate that Fidelity National Financial, Inc. will post 4.53 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.50 dividend. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. Fidelity National Financial’s payout ratio is 57.31%.

Insider Buying and Selling at Fidelity National Financial

In other news, Director Halim Dhanidina sold 1,700 shares of Fidelity National Financial stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $60.85, for a total value of $103,445.00. Following the completion of the sale, the director now directly owns 13,206 shares in the company, valued at $803,585.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

FNF has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. StockNews.com lowered shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Truist Financial upped their price objective on shares of Fidelity National Financial from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Stephens reiterated an “overweight” rating and set a $63.00 price objective on shares of Fidelity National Financial in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods increased their target price on Fidelity National Financial from $58.00 to $63.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelity National Financial has an average rating of “Hold” and an average target price of $62.40.

Fidelity National Financial Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates through Title, F&G, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and reconveyances, and home warranty products.