Korea Investment CORP Lowers Stock Holdings in Fidelity National Financial, Inc. $FNF

Korea Investment CORP cut its position in Fidelity National Financial, Inc. (NYSE:FNF) by 58.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 121,997 shares of the financial services provider’s stock after selling 173,710 shares during the period. Korea Investment CORP’s holdings in Fidelity National Financial were worth $7,380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Fidelity National Financial by 8.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 629,616 shares of the financial services provider’s stock valued at $40,975,000 after acquiring an additional 47,267 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Fidelity National Financial by 141.9% during the first quarter. Acadian Asset Management LLC now owns 14,478 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 8,494 shares in the last quarter. Prospera Financial Services Inc boosted its stake in shares of Fidelity National Financial by 33.9% in the second quarter. Prospera Financial Services Inc now owns 5,412 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 1,369 shares during the period. ProShare Advisors LLC boosted its stake in shares of Fidelity National Financial by 4.4% in the second quarter. ProShare Advisors LLC now owns 11,568 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 492 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Fidelity National Financial by 82.6% in the second quarter. Allworth Financial LP now owns 7,994 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 3,617 shares in the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FNF shares. Wall Street Zen lowered shares of Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods boosted their price target on shares of Fidelity National Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, February 23rd. Stephens began coverage on Fidelity National Financial in a research report on Friday, November 14th. They set an “overweight” rating on the stock. Barclays reduced their price objective on Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Finally, National Bank Financial set a $71.00 target price on Fidelity National Financial in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.33.

Insider Transactions at Fidelity National Financial

In other Fidelity National Financial news, Director Halim Dhanidina sold 6,000 shares of Fidelity National Financial stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $55.90, for a total transaction of $335,400.00. Following the completion of the sale, the director directly owned 13,186 shares of the company’s stock, valued at $737,097.40. The trade was a 31.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by company insiders.

Fidelity National Financial Stock Down 1.7%

Shares of Fidelity National Financial stock opened at $46.37 on Friday. Fidelity National Financial, Inc. has a 52-week low of $45.94 and a 52-week high of $66.72. The company has a 50 day moving average of $53.60 and a 200 day moving average of $56.29. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $12.57 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.60 and a beta of 0.99.

Fidelity National Financial (NYSE:FNF) last announced its quarterly earnings data on Thursday, February 19th. The financial services provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.10). Fidelity National Financial had a net margin of 4.17% and a return on equity of 15.06%. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Fidelity National Financial, Inc. will post 6.28 EPS for the current fiscal year.

Fidelity National Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. Fidelity National Financial’s dividend payout ratio (DPR) is currently 97.65%.

Fidelity National Financial Profile

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.