Carret Asset Management LLC Sells 700 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

Carret Asset Management LLC lessened its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 31,775 shares of the financial services provider’s stock after selling 700 shares during the quarter. Carret Asset Management LLC’s holdings in Fidelity National Financial were worth $1,687,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Fidelity National Financial by 195.2% in the 4th quarter. Victory Capital Management Inc. now owns 4,261,568 shares of the financial services provider’s stock worth $217,425,000 after purchasing an additional 2,818,001 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Fidelity National Financial in the first quarter worth about $135,347,000. Norges Bank bought a new position in shares of Fidelity National Financial in the fourth quarter worth about $41,212,000. Schroder Investment Management Group lifted its position in shares of Fidelity National Financial by 1,029.1% during the 4th quarter. Schroder Investment Management Group now owns 716,554 shares of the financial services provider’s stock valued at $36,559,000 after buying an additional 653,091 shares in the last quarter. Finally, Citigroup Inc. grew its stake in shares of Fidelity National Financial by 182.5% during the 3rd quarter. Citigroup Inc. now owns 926,963 shares of the financial services provider’s stock valued at $38,284,000 after acquiring an additional 598,847 shares during the period. Institutional investors own 81.17% of the company’s stock.

Fidelity National Financial Price Performance

Shares of Fidelity National Financial stock traded down $0.58 on Wednesday, hitting $48.77. 696,047 shares of the company traded hands, compared to its average volume of 1,357,498. Fidelity National Financial, Inc. has a 52 week low of $34.96 and a 52 week high of $53.96. The business has a 50-day simple moving average of $50.34 and a 200 day simple moving average of $50.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a market capitalization of $13.33 billion, a P/E ratio of 16.24 and a beta of 1.35.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.08). Fidelity National Financial had a net margin of 6.55% and a return on equity of 14.24%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis. Research analysts expect that Fidelity National Financial, Inc. will post 4.67 earnings per share for the current fiscal year.

Fidelity National Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Friday, June 14th. Fidelity National Financial’s payout ratio is presently 63.16%.

Wall Street Analyst Weigh In

FNF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of Fidelity National Financial from $55.00 to $53.00 and set a “market perform” rating on the stock in a research note on Tuesday. Barclays raised their price objective on shares of Fidelity National Financial from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Stephens upped their target price on shares of Fidelity National Financial from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.40.

Insiders Place Their Bets

In other news, CFO Anthony Park sold 85,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.82, for a total transaction of $4,319,700.00. Following the completion of the transaction, the chief financial officer now directly owns 99,049 shares in the company, valued at approximately $5,033,670.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Anthony Park sold 85,000 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $50.82, for a total transaction of $4,319,700.00. Following the sale, the chief financial officer now directly owns 99,049 shares in the company, valued at approximately $5,033,670.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Halim Dhanidina sold 3,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $50.64, for a total transaction of $151,920.00. Following the completion of the transaction, the director now directly owns 14,906 shares of the company’s stock, valued at approximately $754,839.84. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

About Fidelity National Financial

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.