M&T Bank Corp Sells 2,342 Shares of Fidelity National Financial, Inc. (NYSE:FNF)

M&T Bank Corp decreased its position in Fidelity National Financial, Inc. (NYSE:FNF) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,358 shares of the financial services provider’s stock after selling 2,342 shares during the quarter. M&T Bank Corp’s holdings in Fidelity National Financial were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Barclays PLC increased its position in Fidelity National Financial by 4.4% in the third quarter. Barclays PLC now owns 216,755 shares of the financial services provider’s stock worth $13,451,000 after purchasing an additional 9,146 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Fidelity National Financial by 7.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 75,571 shares of the financial services provider’s stock worth $4,690,000 after buying an additional 5,558 shares during the last quarter. MML Investors Services LLC raised its position in shares of Fidelity National Financial by 2.2% during the 3rd quarter. MML Investors Services LLC now owns 63,657 shares of the financial services provider’s stock valued at $3,951,000 after buying an additional 1,367 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Fidelity National Financial by 30.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 11,780 shares of the financial services provider’s stock valued at $731,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Zacks Investment Management grew its position in Fidelity National Financial by 10.4% in the third quarter. Zacks Investment Management now owns 599,613 shares of the financial services provider’s stock worth $37,212,000 after acquiring an additional 56,593 shares in the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Halim Dhanidina sold 1,700 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $60.85, for a total value of $103,445.00. Following the completion of the sale, the director now owns 13,206 shares in the company, valued at approximately $803,585.10. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Truist Financial upped their price objective on Fidelity National Financial from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barclays raised their price target on Fidelity National Financial from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Fidelity National Financial from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.80.

Fidelity National Financial Price Performance

Shares of FNF stock opened at $59.96 on Friday. The stock has a 50 day moving average price of $61.02 and a 200 day moving average price of $56.86. Fidelity National Financial, Inc. has a 52-week low of $46.85 and a 52-week high of $64.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $16.41 billion, a P/E ratio of 21.80 and a beta of 1.36.

Fidelity National Financial (NYSE:FNF) last released its earnings results on Wednesday, November 6th. The financial services provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.11). The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.32 billion. Fidelity National Financial had a return on equity of 13.72% and a net margin of 5.57%. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. As a group, sell-side analysts predict that Fidelity National Financial, Inc. will post 4.57 earnings per share for the current year.

Fidelity National Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.34%. This is a boost from Fidelity National Financial’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, December 17th. Fidelity National Financial’s payout ratio is 72.73%.

Fidelity National Financial Profile

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.