Forsta AP Fonden Increases Stake in Fidelity National Financial, Inc.

Forsta AP Fonden has significantly increased its investment in Fidelity National Financial, Inc. (NYSE:FNF) by 62.5% during the fourth quarter, as per the latest filing with the Securities and Exchange Commission. The institutional investor now holds 79,800 shares of the financial services company after acquiring an additional 30,700 shares. By the end of the recent quarter, Forsta AP Fonden's stake in Fidelity National Financial amounted to approximately $4.48 million.

In addition to Forsta AP Fonden, other institutional investors have made notable changes in their positions regarding Fidelity National Financial. For instance, Charles Schwab Investment Management Inc. increased its holdings by 3.7% in the third quarter, now owning 8,025,159 shares worth about $498 million after adding 289,962 shares. Geode Capital Management LLC also raised its stake by 1.6%, holding 4,462,837 shares valued at approximately $276 million following a purchase of 69,643 shares.

Furthermore, AustralianSuper Pty Ltd grew its investment in Fidelity National Financial by 0.4%, owning 1,833,765 shares valued at around $113 million after acquiring 6,976 shares. Similarly, UBS AM, a division of UBS Asset Management Americas LLC, increased its holdings by 3.9%, bringing its total to 1,530,424 shares valued at about $95 million after purchasing 57,316 shares. Lastly, FMR LLC raised its stake by 11.4%, now owning 872,017 shares worth approximately $54 million after buying 89,031 shares. Notably, institutional investors collectively own 81.17% of Fidelity National Financial's stock.

Fidelity National Financial Stock Overview

As for the stock performance, Fidelity National Financial opened at $58.20. The company has a 50-day moving average of $58.57 and a 200-day moving average of $58.58. The stock's performance over the past year shows a low of $46.85 and a high of $64.83. With a market capitalization of $15.92 billion, Fidelity National Financial's debt-to-equity ratio stands at 0.47, while the current and quick ratios are both at 0.24. The company has a price-to-earnings ratio of 21.16 and a beta of 1.38.

On November 6, Fidelity National Financial reported its quarterly earnings, showing an earnings per share (EPS) of $1.30, which missed analyst estimates of $1.41 by $0.11. The firm's revenue for the quarter was $3.60 billion, surpassing projections of $3.32 billion. The company achieved a net margin of 5.57% and a return on equity of 13.72%, with year-over-year revenue growth of 29.7%. Analysts predict that the company will post an EPS of 4.57 for the current year.

Dividend Announcement

Recently, Fidelity National Financial declared a quarterly dividend of $0.50 per share, which was paid to shareholders on December 31, with a record date of December 17. This dividend represents an annualized total of $2.00 per share, yielding approximately 3.44%. This increase from the previous quarterly dividend of $0.48 has resulted in a payout ratio of 72.73%.

Analyst Price Predictions

Several equity research analysts have provided updated price targets for Fidelity National Financial. Keefe, Bruyette & Woods reduced their price target from $64.00 to $63.00, maintaining a "market perform" rating. Meanwhile, Barclays raised their target from $56.00 to $59.00, rating the company as "equal weight." Deutsche Bank upgraded its rating from "hold" to "buy," increasing the price target from $76.00 to $77.00. Additionally, Truist Financial lifted its target from $64.00 to $70.00, also giving a "buy" rating. Presently, the stock has three hold ratings and three buy ratings, resulting in an average rating of "Moderate Buy" and a consensus target price of $66.40 according to MarketBeat.com.

Insider Transactions

In recent insider activities, Director Halim Dhanidina sold 2,800 shares on January 10, receiving approximately $153,580 from the transaction, which represented a 14.35% decrease in their holdings. Post-sale, Dhanidina owns a total of 16,716 shares valued around $916,872. Moreover, Director Sandra Douglass Morgan sold 2,092 shares on December 24 for around $117,842, resulting in a 6.07% reduction of her share ownership. Currently, insiders hold about 5.20% of the company's stock.

Company Overview

Fidelity National Financial, Inc. operates through its subsidiaries, offering various insurance products across the United States. The segments under the company include Title, F&G, and Corporate and Other, providing services such as title insurance, escrow, trust activities, and home warranty products.

Fidelity, Investment, Shares