Reinhart Partners LLC. Trims Stake in Fidelity National Financial, Inc. (NYSE:FNF)

Reinhart Partners LLC. trimmed its stake in Fidelity National Financial, Inc. (NYSE:FNF) by 17.1% in the 4th quarter, HoldingsChannel reports. The firm owned 169,967 shares of the financial services provider’s stock after selling 35,120 shares during the period. Reinhart Partners LLC.’s holdings in Fidelity National Financial were worth $9,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Fidelity National Financial by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,094 shares of the financial services provider’s stock worth $1,557,000 after purchasing an additional 348 shares in the last quarter. Fortem Financial Group LLC increased its stake in Fidelity National Financial by 3.4% in the 4th quarter. Fortem Financial Group LLC now owns 16,212 shares of the financial services provider’s stock worth $910,000 after buying an additional 532 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Fidelity National Financial in the 4th quarter worth $621,000. GAMMA Investing LLC increased its stake in Fidelity National Financial by 19.8% in the 4th quarter. GAMMA Investing LLC now owns 7,458 shares of the financial services provider’s stock worth $419,000 after buying an additional 1,233 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Fidelity National Financial by 17.1% in the 4th quarter. Versant Capital Management Inc now owns 1,729 shares of the financial services provider’s stock worth $97,000 after buying an additional 252 shares in the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Halim Dhanidina sold 2,800 shares of Fidelity National Financial stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $54.85, for a total value of $153,580.00. Following the completion of the transaction, the director now owns 16,716 shares in the company, valued at approximately $916,872.60. This trade represents a 14.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sandra Douglass Morgan sold 2,092 shares of Fidelity National Financial stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $56.33, for a total value 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. This represents a 6.07 % decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FNF shares. Deutsche Bank Aktiengesellschaft upgraded Fidelity National Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $76.00 to $77.00 in a research note on Friday, January 3rd. Truist Financial increased their price target on Fidelity National Financial from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Barclays increased their price target on Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut their price target on Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fidelity National Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.40.

Fidelity National Financial Price Performance

Shares of FNF traded down $0.25 during midday trading on Monday, hitting $54.00. 414,987 shares of the company traded hands, compared to its average volume of 939,497. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. Fidelity National Financial, Inc. has a 52 week low of $46.85 and a 52 week high of $64.83. The firm has a 50 day moving average of $59.33 and a 200-day moving average of $57.89. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 19.64 and a beta of 1.38.

Fidelity National Financial (NYSE:FNF) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.30 EPS 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%. The company’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. On average, analysts forecast that Fidelity National Financial, Inc. will post 4.57 EPS for the current fiscal year.

Fidelity National Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a $0.50 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $2.00 annualized dividend and a yield of 3.70%. This is a positive change from Fidelity National Financial’s previous quarterly dividend of $0.48. Fidelity National Financial’s dividend payout ratio (DPR) is currently 72.73%.

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.