PhiloSmith Capital Corp Takes $4.35 Million Position in Fidelity National Financial Inc (FNF)

PhiloSmith Capital Corp acquired a new stake in Fidelity National Financial Inc (NYSE:FNF) in the third quarter, Holdings Channel reports. The fund acquired 110,500 shares of the financial services provider’s stock, valued at approximately $4,349,000. Fidelity National Financial accounts for 2.7% of PhiloSmith Capital Corp’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNF. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of Fidelity National Financial by 77.3% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,448,841 shares of the financial services provider’s stock worth $96,361,000 after acquiring an additional 1,067,814 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Fidelity National Financial by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 17,034,893 shares of the financial services provider’s stock worth $681,736,000 after acquiring an additional 500,930 shares during the period. TPG Group Holdings SBS Advisors Inc. lifted its holdings in shares of Fidelity National Financial by 22.0% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,985,032 shares of the financial services provider’s stock worth $74,677,000 after acquiring an additional 357,654 shares during the period. Marshall Wace LLP bought a new stake in shares of Fidelity National Financial during the 2nd quarter worth approximately $11,009,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Fidelity National Financial by 53.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 742,449 shares of the financial services provider’s stock worth $27,931,000 after acquiring an additional 259,991 shares during the period. 82.94% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FNF opened at $33.45 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. Fidelity National Financial Inc has a 52-week low of $31.14 and a 52-week high of $42.52. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 14.74 and a beta of 0.76.

Fidelity National Financial (NYSE:FNF) last posted its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.01). Fidelity National Financial had a return on equity of 16.32% and a net margin of 10.54%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts expect that Fidelity National Financial Inc will post 2.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, December 13th. Fidelity National Financial’s dividend payout ratio (DPR) is presently 52.86%.

Fidelity National Financial announced that its board has approved a share repurchase program on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Several brokerages recently commented on FNF. ValuEngine raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Fidelity National Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Barclays set a $43.00 price objective on shares of Fidelity National Financial and gave the company a “buy” rating in a research note on Friday, October 26th. Finally, Keefe, Bruyette & Woods raised shares of Fidelity National Financial from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research note on Monday, July 16th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $43.40.

In other news, Director John D. Rood acquired 31,200 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $32.51 per share, for a total transaction of $1,014,312.00. Following the completion of the transaction, the director now directly owns 43,681 shares in the company, valued at approximately $1,420,069.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cary H. Thompson sold 85,639 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $40.10, for a total transaction of $3,434,123.90. Following the sale, the director now owns 74,000 shares of the company’s stock, valued at $2,967,400. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Fidelity National Financial Profile

Fidelity National Financial, Inc, together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. The company operates in Title, and Corporate and Other segments. It offers title insurance, escrow, and other title related services, including collection and trust activities, trustee sales guarantees, recordings and conveyances, and home warranty insurance.

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

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