DAVENPORT & Co LLC raised its stake in Fidelity National Financial Inc (NYSE:FNF) by 16.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,729,847 shares of the financial services provider’s stock after acquiring an additional 652,594 shares during the quarter. Fidelity National Financial makes up approximately 1.7% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 8th largest position. DAVENPORT & Co LLC owned 1.62% of Fidelity National Financial worth $148,091,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of FNF. Windacre Partnership LLC bought a new position in shares of Fidelity National Financial during the 2nd quarter valued at approximately $366,608,000. Blackstone Group Inc acquired a new stake in shares of Fidelity National Financial in the second quarter valued at approximately $117,951,000. AQR Capital Management LLC boosted its holdings in shares of Fidelity National Financial by 83.2% in the first quarter. AQR Capital Management LLC now owns 3,824,058 shares of the financial services provider’s stock valued at $95,143,000 after acquiring an additional 1,736,871 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fidelity National Financial by 63.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,216,421 shares of the financial services provider’s stock valued at $98,616,000 after acquiring an additional 1,250,934 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Fidelity National Financial by 184.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,826,685 shares of the financial services provider’s stock valued at $56,006,000 after acquiring an additional 1,183,496 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.
NYSE:FNF traded up $0.27 during trading hours on Friday, hitting $33.46. The company’s stock had a trading volume of 922,264 shares, compared to its average volume of 2,606,036. Fidelity National Financial Inc has a 52-week low of $19.00 and a 52-week high of $49.28. The company has a market capitalization of $9.77 billion, a PE ratio of 11.12 and a beta of 1.23. The business’s 50-day moving average is $32.93 and its two-hundred day moving average is $30.73. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.17 and a current ratio of 0.17.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, September 15th. Fidelity National Financial’s dividend payout ratio is currently 38.94%.
In related news, CEO Raymond R. Quirk sold 131,780 shares of Fidelity National Financial stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $31.09, for a total transaction of $4,097,040.20. Following the completion of the sale, the chief executive officer now owns 504,464 shares in the company, valued at approximately $15,683,785.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Roger S. Jewkes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $34.27, for a total value of $685,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 457,502 shares of company stock valued at $14,695,175. Company insiders own 5.80% of the company’s stock.
Several equities research analysts have recently weighed in on the company. TheStreet raised Fidelity National Financial from a “c+” rating to a “b” rating in a report on Monday, October 12th. ValuEngine downgraded Fidelity National Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price target on Fidelity National Financial from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Barclays increased their price target on Fidelity National Financial from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. Finally, Zacks Investment Research raised Fidelity National Financial from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Fidelity National Financial currently has an average rating of “Buy” and an average target price of $38.00.
Fidelity National Financial Profile
Fidelity National Financial, Inc, together with its subsidiaries, provides various insurance products in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.
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