February 9, 2023

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Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Fidelity National Financial, Inc. (NYSE:FNF)

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Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Fidelity National Financial, Inc. (NYSE:FNFGet Rating) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,728 shares of the financial services provider’s stock after buying an additional 327 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fidelity National Financial were worth $2,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Fidelity National Financial by 2.1% during the 4th quarter. BlackRock Inc. now owns 33,708,680 shares of the financial services provider’s stock valued at $1,758,921,000 after buying an additional 677,196 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Fidelity National Financial by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,843,334 shares of the financial services provider’s stock valued at $252,440,000 after buying an additional 158,115 shares in the last quarter. Norges Bank purchased a new position in shares of Fidelity National Financial during the 4th quarter valued at approximately $222,689,000. First Trust Advisors LP lifted its position in shares of Fidelity National Financial by 16.8% during the 4th quarter. First Trust Advisors LP now owns 4,101,033 shares of the financial services provider’s stock valued at $213,992,000 after buying an additional 590,651 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Fidelity National Financial by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,840,616 shares of the financial services provider’s stock valued at $148,215,000 after purchasing an additional 23,159 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Fidelity National Financial to $62.00 and gave the company a “na” rating in a report on Monday, May 16th. Credit Suisse Group decreased their target price on shares of Fidelity National Financial from $75.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, April 1st. Barclays dropped their price target on Fidelity National Financial from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Finally, StockNews.com began coverage on Fidelity National Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Fidelity National Financial has an average rating of “Moderate Buy” and an average price target of $64.67.

Shares of FNF stock opened at $37.46 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19. The firm’s 50-day moving average is $39.42 and its two-hundred day moving average is $45.32. Fidelity National Financial, Inc. has a 12 month low of $34.59 and a 12 month high of $56.44. The company has a market capitalization of $10.52 billion, a PE ratio of 4.83 and a beta of 1.41.

Fidelity National Financial (NYSE:FNFGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.89 billion. Fidelity National Financial had a net margin of 14.10% and a return on equity of 24.56%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 EPS. Sell-side analysts forecast that Fidelity National Financial, Inc. will post 6.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $1.76 annualized dividend and a yield of 4.70%. Fidelity National Financial’s dividend payout ratio (DPR) is 22.68%.

About Fidelity National Financial (Get Rating)

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 insurance.

Further Reading

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Institutional Ownership by Quarter for Fidelity National Financial (NYSE:FNF)



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