Salem Investment Counselors Inc. Maintains Stake in Fidelity National Financial, Inc. (FNF)

Salem Investment Counselors Inc. continued to hold its stake in Fidelity National Financial, Inc. (NYSE:FNF) during the first quarter, Holdings Channel reports. The firm owned 3,391 shares of the financial services provider’s stock at the end of the first quarter. Salem Investment Counselors Inc.’s holdings in Fidelity National Financial were worth $131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York GFN purchased a new stake in Fidelity National Financial during the fourth quarter worth about $107,000. FTB Advisors Inc. increased its stake in Fidelity National Financial by 234.3% in the first quarter. FTB Advisors Inc. now owns 3,891 shares of the financial services provider’s stock worth $159,000 after buying an additional 2,727 shares in the last quarter. King Luther Capital Management Corp purchased a new stake in Fidelity National Financial during the first quarter worth about $204,000. Janney Montgomery Scott LLC purchased a new stake in Fidelity National Financial during the first quarter worth about $209,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in Fidelity National Financial during the first quarter worth about $210,000. 84.21% of the stock is owned by institutional investors and hedge funds.

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

Fidelity National Financial, Inc. (NYSE FNF) traded up 0.97% during mid-day trading on Friday, reaching $44.58. The company’s stock had a trading volume of 1,180,274 shares. The company has a 50-day moving average price of $42.02 and a 200-day moving average price of $38.06. Fidelity National Financial, Inc. has a 12-month low of $31.64 and a 12-month high of $44.61. The firm has a market cap of $12.14 billion, a PE ratio of 19.12 and a beta of 0.93.

Fidelity National Financial (NYSE:FNF) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.74 billion. Fidelity National Financial had a net margin of 7.34% and a return on equity of 10.51%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. On average, equities research analysts expect that Fidelity National Financial, Inc. will post $2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Fidelity National Financial’s dividend payout ratio (DPR) is 42.92%.

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A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $38.00 target price on shares of Fidelity National Financial in a research report on Wednesday, April 19th. Zacks Investment Research raised Fidelity National Financial from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Monday. Finally, Monness Crespi & Hardt raised their target price on Fidelity National Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Fidelity National Financial presently has a consensus rating of “Buy” and a consensus target price of $44.60.

In other news, Director Daniel D. Lane sold 27,097 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $38.51, for a total value of $1,043,505.47. Following the completion of the sale, the director now directly owns 256,766 shares in the company, valued at approximately $9,888,058.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony Park sold 138,941 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $41.28, for a total value of $5,735,484.48. Following the completion of the sale, the chief financial officer now owns 228,280 shares of the company’s stock, valued at $9,423,398.40. The disclosure for this sale can be found here. Insiders sold a total of 246,786 shares of company stock valued at $10,293,143 over the last 90 days. 5.00% of the stock is currently owned by company insiders.

Fidelity National Financial Company Profile

Fidelity National Financial, Inc (FNF) is a holding company. FNF, through its subsidiaries, provides title insurance, mortgage services and diversified services. FNF operates in four segments: Fidelity National Title Group, Remy, Restaurant Group and Corporate and Other. The Fidelity National Title Group segment consists of the operations of FNF’s title insurance underwriters and related businesses.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FNF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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