Everence Capital Management Inc. Makes New Investment in Fidelity National Financial, Inc. (NYSE:FNF)

Everence Capital Management Inc. bought a new stake in Fidelity National Financial, Inc. (NYSE:FNF) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,060 shares of the financial services provider’s stock, valued at approximately $621,000.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Fidelity National Financial by 31.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,456 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,294 shares during the period. CIBC Asset Management Inc increased its stake in Fidelity National Financial by 3.0% during the 2nd quarter. CIBC Asset Management Inc now owns 15,523 shares of the financial services provider’s stock worth $767,000 after buying an additional 454 shares during the period. Foundations Investment Advisors LLC lifted its holdings in Fidelity National Financial by 6.3% in the 2nd quarter. Foundations Investment Advisors LLC now owns 7,717 shares of the financial services provider’s stock worth $381,000 after buying an additional 460 shares in the last quarter. TD Asset Management Inc boosted its position in Fidelity National Financial by 10.6% in the 2nd quarter. TD Asset Management Inc now owns 54,961 shares of the financial services provider’s stock valued at $2,716,000 after buying an additional 5,256 shares during the last quarter. Finally, Savant Capital LLC acquired a new stake in shares of Fidelity National Financial during the second quarter valued at about $647,000. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fidelity National Financial

In other news, Director Sandra Douglass Morgan sold 2,092 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $56.33, for a total transaction of $117,842.36. Following the completion of the transaction, the director now owns 32,386 shares of the company’s stock, valued at approximately $1,824,303.38. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FNF shares. Truist Financial increased their price target on Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $76.00 to $77.00 in a research report on Friday. Keefe, Bruyette & Woods upped their price target on shares of Fidelity National Financial from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Tuesday, December 10th. Finally, Barclays raised their price objective on shares of Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.60.

Fidelity National Financial Stock Performance

FNF stock opened at $56.82 on Friday. The stock’s 50 day simple moving average is $59.77 and its 200 day simple moving average is $57.54. Fidelity National Financial, Inc. has a 12-month low of $46.85 and a 12-month high of $64.83. The firm has a market cap of $15.55 billion, a P/E ratio of 20.66 and a beta of 1.36. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). Fidelity National Financial had a return on equity of 13.72% and a net margin of 5.57%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. As a group, equities research analysts predict that Fidelity National Financial, Inc. will post 4.57 EPS for the current year.

Fidelity National Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 17th. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 3.52%. Fidelity National Financial’s dividend payout ratio is 72.73%.

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.