Norges Bank Invests $158.39 Million in Fidelity National Financial, Inc. (NYSE:FNF)

Norges Bank purchased a new stake in Fidelity National Financial, Inc. (NYSE:FNF) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,821,264 shares of the financial services provider’s stock, valued at approximately $158,386,000.

A number of other large investors have also recently bought and sold shares of FNF. Vanguard Group Inc. boosted its stake in shares of Fidelity National Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 27,054,319 shares of the financial services provider’s stock valued at $1,518,829,000 after purchasing an additional 150,493 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fidelity National Financial by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,412,888 shares of the financial services provider’s stock valued at $472,300,000 after buying an additional 387,729 shares in the last quarter. Victory Capital Management Inc. grew its stake in Fidelity National Financial by 1.2% during the fourth quarter. Victory Capital Management Inc. now owns 8,093,184 shares of the financial services provider’s stock worth $454,351,000 after buying an additional 98,751 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Fidelity National Financial by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,462,837 shares of the financial services provider’s stock worth $276,343,000 after buying an additional 69,643 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its stake in shares of Fidelity National Financial by 0.9% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,849,429 shares of the financial services provider’s stock valued at $103,827,000 after acquiring an additional 15,664 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on FNF. Stephens increased their price target on Fidelity National Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Keefe, Bruyette & Woods lowered their target price 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. StockNews.com downgraded shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Fidelity National Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $76.00 to $77.00 in a research report on Friday, January 3rd. Finally, Barclays upped their target price on shares of Fidelity National Financial from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fidelity National Financial has a consensus rating of “Moderate Buy” and a consensus price target of $70.40.

Insider Activity

In other news, Director Halim Dhanidina sold 2,800 shares of the company’s 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 sale, the director now directly owns 16,716 shares of the company’s stock, valued at $916,872.60. This represents a 14.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by company insiders.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $65.13 on Tuesday. The firm has a market cap of $17.91 billion, a price-to-earnings ratio of 14.01 and a beta of 1.32. Fidelity National Financial, Inc. has a 12 month low of $46.85 and a 12 month high of $66.10. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $60.90 and a 200 day moving average price of $60.13.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Thursday, February 20th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.23 by $0.11. Fidelity National Financial had a net margin of 9.28% and a return on equity of 15.36%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the previous year, the company earned $0.75 EPS. Research analysts expect that Fidelity National Financial, Inc. will post 6.28 EPS for the current year.

Fidelity National Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, March 17th. Fidelity National Financial’s dividend payout ratio (DPR) is currently 43.01%.

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.