Point72 Asia Singapore Pte. Ltd. Takes Position in Fidelity National Financial, Inc. (NYSE:FNF)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Fidelity National Financial, Inc. (NYSE:FNF) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,509 shares of the financial services provider’s stock, valued at approximately $280,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in Fidelity National Financial by 117.9% during the first quarter. Cetera Investment Advisers now owns 44,417 shares of the financial services provider’s stock worth $2,359,000 after buying an additional 24,034 shares during the last quarter. M&G Plc bought a new position in shares of Fidelity National Financial in the 2nd quarter valued at approximately $629,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Fidelity National Financial by 61.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 49,707 shares of the financial services provider’s stock worth $2,457,000 after purchasing an additional 18,838 shares during the last quarter. Swedbank AB lifted its stake in shares of Fidelity National Financial by 25.1% in the third quarter. Swedbank AB now owns 42,375 shares of the financial services provider’s stock worth $2,630,000 after buying an additional 8,511 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Fidelity National Financial by 10.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 851,810 shares of the financial services provider’s stock valued at $42,096,000 after buying an additional 82,982 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on FNF. Truist Financial upped their price target on shares of Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays increased their target price on Fidelity National Financial from $56.00 to $59.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on Fidelity National Financial from $58.00 to $63.00 and gave the stock a “market perform” rating in a report on Wednesday, September 4th. Stephens restated an “overweight” rating and issued a $63.00 price objective on shares of Fidelity National Financial in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Fidelity National Financial from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.60.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $62.78 on Wednesday. The company has a market capitalization of $17.18 billion, a P/E ratio of 22.83 and a beta of 1.36. Fidelity National Financial, Inc. has a 12 month low of $44.80 and a 12 month high of $64.83. The stock has a 50 day moving average of $61.00 and a two-hundred day moving average of $56.34. 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 released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.11). Fidelity National Financial had a net margin of 5.57% and a return on equity of 13.72%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. As a group, equities analysts expect that Fidelity National Financial, Inc. will post 4.5 EPS for the current year.

Fidelity National Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, December 17th. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s payout ratio is 69.82%.

Insider Activity

In related news, Director Halim Dhanidina sold 1,700 shares of Fidelity National Financial stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $60.85, for a total transaction of $103,445.00. Following the completion of the sale, the director now directly owns 13,206 shares of the company’s stock, valued at $803,585.10. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is currently owned by insiders.

Fidelity National Financial Company 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.