L2 Asset Management LLC Grows Position in Fidelity National Financial, Inc. $FNF

L2 Asset Management LLC lifted its position in shares of Fidelity National Financial, Inc. (NYSE:FNF) by 128.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,713 shares of the financial services provider’s stock after purchasing an additional 12,194 shares during the quarter. L2 Asset Management LLC’s holdings in Fidelity National Financial were worth $1,313,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in Fidelity National Financial during the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in Fidelity National Financial in the second quarter valued at $29,000. Mather Group LLC. purchased a new position in Fidelity National Financial in the third quarter valued at $29,000. Atlantic Union Bankshares Corp raised its position in shares of Fidelity National Financial by 997.7% in the third quarter. Atlantic Union Bankshares Corp now owns 472 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 429 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Fidelity National Financial in the second quarter worth about $32,000. 81.17% of the stock is owned by hedge funds and other institutional investors.

Fidelity National Financial Stock Up 0.7%

FNF opened at $47.91 on Tuesday. Fidelity National Financial, Inc. has a twelve month low of $45.94 and a twelve month high of $66.72. 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 50-day moving average price of $53.31 and a 200 day moving average price of $56.06. The company has a market cap of $12.99 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 0.60 and a beta of 0.99.

Fidelity National Financial (NYSE:FNF) last issued its quarterly earnings results on Thursday, February 19th. The financial services provider reported $1.41 earnings per share 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 company 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 business posted $1.34 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts expect that Fidelity National Financial, Inc. will post 6.28 earnings per share for the current fiscal year.

Fidelity National Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, March 17th. Fidelity National Financial’s dividend payout ratio (DPR) is 97.65%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FNF shares. National Bank Financial set a $71.00 target price on Fidelity National Financial in a research report on Monday, February 23rd. Barclays reduced their price target on Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating for the company in a report on Tuesday, January 6th. Keefe, Bruyette & Woods increased their price target on Fidelity National Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday, February 23rd. Weiss Ratings lowered Fidelity National Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, Wall Street Zen cut Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Fidelity National Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

Insider Buying and Selling at Fidelity National Financial

In other news, Director Halim Dhanidina sold 6,000 shares of Fidelity National Financial stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $55.90, for a total value of $335,400.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.50% of the stock is currently owned by company insiders.

Fidelity National Financial Company 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.