Forsta AP Fonden Expands Stake in Fidelity National Financial

Forsta AP Fonden has significantly increased its investment in Fidelity National Financial, Inc. (NYSE:FNF) by 62.5% during the fourth quarter, according to a recent filing with the Securities and Exchange Commission. Following this increase, the institutional investor now holds 79,800 shares of the financial services company, having acquired an additional 30,700 shares during the quarter. The total value of Forsta AP Fonden's holdings in Fidelity National Financial reached approximately $4,480,000 at the close of this period.

Other institutional investors have also made adjustments to their positions in Fidelity National Financial recently. For instance, Charles Schwab Investment Management Inc. raised its investment in the company by 3.7% in the third quarter, owning 8,025,159 shares valued at $498,041,000 after purchasing an additional 289,962 shares. Geode Capital Management LLC increased its stake in the firm by 1.6% during the same period, ending up with 4,462,837 shares worth $276,343,000 after acquiring an extra 69,643 shares. Furthermore, AustralianSuper Pty Ltd lifted its position in Fidelity National Financial by 0.4%, now holding 1,833,765 shares valued at $113,803,000. Additionally, a unit of UBS Asset Management, known as UBS AM, saw its holdings grow by 3.9% as it added 57,316 shares, bringing its total to 1,530,424 shares valued at $94,978,000. Lastly, FMR LLC increased its stake by 11.4%, owning 872,017 shares worth $54,117,000 after acquiring 89,031 shares. In total, hedge funds and other institutional investors now control 81.17% of Fidelity National Financial's stock.

Current Stock Performance of Fidelity National Financial

The stock of Fidelity National Financial opened at $58.20 on Friday. Its 50-day moving average is currently at $58.57, and the two-hundred day moving average stands at $58.58. Over the past year, the stock has reached a low of $46.85 and a high of $64.83. Its financial statistics include a debt-to-equity ratio of 0.47, a current ratio of 0.24, and a quick ratio of 0.24, with a market capitalization of $15.92 billion and a price-to-earnings ratio of 21.16.

Fidelity National Financial recently announced its quarterly earnings, which were released on November 6th. The company reported earnings per share (EPS) of $1.30, which fell short of analysts' expectations of $1.41 by $0.11. The reported revenue for the quarter was $3.60 billion, exceeding analyst predictions of $3.32 billion. The company exhibited a net margin of 5.57% and a return on equity of 13.72%, with year-over-year revenue growth of 29.7%. For the current year, analysts predict Fidelity National Financial will achieve an EPS of 4.57.

Dividend Announcement from Fidelity National Financial

In addition, the firm recently revealed details regarding its quarterly dividend, which was paid on December 31st. Shareholders on record as of December 17th were rewarded with a dividend of $0.50 per share, representing a total annualized dividend of $2.00 and a yield of 3.44%. This marks an increase from its previous quarterly dividend of $0.48. The ex-dividend date was also set for December 17th, and the company's dividend payout ratio stands at 72.73%.

Analyst Ratings and Price Targets for Fidelity National Financial

Recent reports from equity research analysts have updated the price targets for Fidelity National Financial. For example, Keefe, Bruyette & Woods lowered their price target from $64.00 to $63.00 while continuing to maintain a "market perform" rating. Barclays raised its target price from $56.00 to $59.00, providing the stock with an "equal weight" rating. Deutsche Bank upgraded its rating from "hold" to "buy" and set a new price target from $76.00 to $77.00. Truist Financial also increased their price objective from $64.00 to $70.00, giving the stock a "buy" rating. Overall, three analysts have assigned a hold rating while three have given it a buy rating, leading to an average rating of "Moderate Buy" with a consensus target price of $66.40, according to MarketBeat.com.

Recent Insider Trading at Fidelity National Financial

In insider news, Director Halim Dhanidina sold 2,800 shares of Fidelity National Financial stock on January 10th at an average price of $54.85, totaling about $153,580. After this transaction, the director holds 16,716 shares valued at roughly $916,872.60. This represented a 14.35% decrease in ownership. In another transaction, Director Sandra Douglass Morgan sold 2,092 shares on December 24th for an average price of $56.33, resulting in total proceeds of $117,842.36. After this sale, Sandra holds 32,386 shares valued around $1,824,303.38, reflecting a 6.07% decrease in her position. Insiders currently own 5.20% of Fidelity National Financial's stock.

Overview of Fidelity National Financial

Fidelity National Financial, Inc. offers a range of insurance products through its subsidiaries in the United States. The company operates across different segments including Title, F&G, and Corporate and Other, providing services such as title insurance, escrow services, home warranty products, and additional title-related services.

Fidelity, Investment, Stock