Sumitomo Mitsui Trust Group Inc. Cuts Position in Fidelity National Financial, Inc. (NYSE:FNF)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 620,223 shares of the financial services provider’s stock after selling 5,784 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Fidelity National Financial worth $38,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Entropy Technologies LP increased its stake in shares of Fidelity National Financial by 11.0% during the 3rd quarter. Entropy Technologies LP now owns 29,749 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 2,943 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Fidelity National Financial by 4.3% during the third quarter. Crossmark Global Holdings Inc. now owns 17,044 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 710 shares during the period. Legacy Capital Wealth Partners LLC boosted its position in Fidelity National Financial by 76.9% during the third quarter. Legacy Capital Wealth Partners LLC now owns 18,431 shares of the financial services provider’s stock worth $1,144,000 after acquiring an additional 8,015 shares during the last quarter. Covestor Ltd grew its stake in Fidelity National Financial by 73.1% in the 3rd quarter. Covestor Ltd now owns 812 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 343 shares during the period. Finally, Pegasus Partners Ltd. acquired a new position in Fidelity National Financial in the 3rd quarter valued at $209,000. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Fidelity National Financial Stock Down 0.4 %

Shares of Fidelity National Financial stock opened at $60.74 on Friday. Fidelity National Financial, Inc. has a twelve month low of $43.97 and a twelve month high of $62.97. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of 22.08 and a beta of 1.37. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $60.48 and a 200 day moving average price of $55.38.

Fidelity National Financial (NYSE:FNF) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.11). The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Fidelity National Financial had a return on equity of 13.72% and a net margin of 5.57%. Fidelity National Financial’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Equities research analysts forecast that Fidelity National Financial, Inc. will post 4.5 earnings per share for the current fiscal year.

Fidelity National Financial Increases Dividend

The company also recently disclosed 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 an increase from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $2.00 annualized dividend and a yield of 3.29%. Fidelity National Financial’s dividend payout ratio (DPR) is 69.82%.

Wall Street Analyst Weigh In

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

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 shares were sold at an average price of $60.85, for a total transaction of $103,445.00. Following the sale, the director now owns 13,206 shares of the company’s stock, valued at $803,585.10. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

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.