Allstate Corp Makes New $405,000 Investment in Fidelity National Financial, Inc. (NYSE:FNF)

Allstate Corp acquired a new stake in Fidelity National Financial, Inc. (NYSE:FNF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,218 shares of the financial services provider’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its position in shares of Fidelity National Financial by 11.4% during the 3rd quarter. FMR LLC now owns 872,017 shares of the financial services provider’s stock worth $54,117,000 after purchasing an additional 89,031 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Fidelity National Financial by 28.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,467 shares of the financial services provider’s stock worth $3,318,000 after buying an additional 11,894 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Fidelity National Financial during the third quarter worth $134,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fidelity National Financial in the third quarter valued at $280,000. Finally, Benjamin Edwards Inc. grew its position in shares of Fidelity National Financial by 998.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 47,176 shares of the financial services provider’s stock valued at $2,928,000 after acquiring an additional 42,880 shares during the period. Institutional investors and hedge funds own 81.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FNF. Stephens upped their target price on shares of Fidelity National Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, February 24th. StockNews.com cut Fidelity National Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Barclays boosted their target price on Fidelity National Financial from $61.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Keefe, Bruyette & Woods dropped their price target on Fidelity National Financial from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Fidelity National Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $76.00 to $77.00 in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fidelity National Financial has an average rating of “Moderate Buy” and an average target price of $70.40.

Fidelity National Financial Price Performance

Fidelity National Financial stock opened at $66.64 on Thursday. The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of 14.33 and a beta of 1.32. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. Fidelity National Financial, Inc. has a 12 month low of $46.85 and a 12 month high of $66.72. The stock’s 50 day moving average is $61.21 and its 200-day moving average is $60.21.

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

Fidelity National Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Monday, March 17th. Fidelity National Financial’s dividend payout ratio is currently 43.01%.

Insider Buying and Selling at Fidelity National Financial

In related news, Director Halim Dhanidina sold 2,800 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $916,872.60. The trade was a 14.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.20% of the company’s stock.

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.