In the first quarter of 2023, D L Carlson Investment Group Inc. significantly reduced its holdings in Fidelity National Financial, Inc. (NYSE:FNF), according to the company’s recent filing with the Securities and Exchange Commission. The institutional investor sold 37,612 shares of the financial services provider’s stock, resulting in a 29.5% reduction in its holdings. As a result, D L Carlson Investment Group Inc.’s ownership of Fidelity National Financial decreased to 89,756 shares, with an estimated value of $3,135,000 by the end of the reporting period.
This development comes as Fidelity National Financial released its earnings results for the second quarter on August 8th. The company reported earnings per share (EPS) of $1.01 for the quarter, falling short of the consensus estimate by ($0.03). Despite this shortfall, Fidelity National Financial generated $3.07 billion in revenue during the same period, surpassing analyst estimates which predicted revenue of $2.68 billion.
Furthermore, it is worth noting that Fidelity National Financial achieved a return on equity of 15.89% and a net margin of 4.57% for this particular quarter. These figures indicate that the company is performing well financially and maintaining healthy profit margins.
Comparing these results to the previous year’s performance, Fidelity National Financial experienced a significant increase in revenue by 16.4%. In addition, during the corresponding period last year, the firm earned $1.90 earnings per share.
Looking ahead to future prospects for Fidelity National Financial, it is important to note that equities analysts expect the company to post estimated earnings per share (EPS) of 3.7 for the current fiscal year.
While D L Carlson Investment Group Inc.’s decision to reduce its holdings may raise questions about investor sentiment towards Fidelity National Financial, it must be understood that investment strategies are determined by various factors unique to each investor. Nevertheless, the positive financial performance highlighted in the second-quarter earnings report suggests that Fidelity National Financial continues to show stability and potential for growth in the industry.
As always, it is advisable for investors to exercise due diligence and carefully consider all available information before making any investment decisions.
Institutional Investors Show Growing Interest in Fidelity National Financial Stock
September 13, 2023 – Fidelity National Financial, Inc. (NYSE: FNF) has recently caught the attention of various institutional investors, with an overwhelming majority of shares being bought and sold by these key players in the financial market. Meiji Yasuda Asset Management Co Ltd., Lido Advisors LLC, Sei Investments Co., Alps Advisors Inc., and BI Asset Management Fondsmaeglerselskab A S are among those who have increased their stakes in the company’s stock.
During the second quarter, Meiji Yasuda Asset Management Co Ltd. witnessed a notable increase of 3.1% in its holdings of Fidelity National Financial’s shares. This equated to an additional 250 shares, bringing its total ownership to 8,348 shares valued at approximately $309,000.
Lido Advisors LLC also augmented their stake in Fidelity National Financial during the first quarter by 3.3%. They purchased an additional 257 shares that raised their holdings to 7,938 shares worth $387,000.
Sei Investments Co. demonstrated a more conservative approach, increasing its holdings in the first quarter by only 1.5%. As a result, they currently own 19,176 shares valued at around $938,000.
Similarly, Alps Advisors Inc. decided to strengthen its position with a modest rise in holdings by 3.9% during the fourth quarter. Their current ownership stands at 8,083 shares worth $304,000.
Another notable institutional investor is BI Asset Management Fondsmaeglerselskab A S which experienced an increase of 8.4% during the first quarter and now possesses a total of 4,137 shares valued at $145,000.
Combined together, these institutional investors and hedge funds contribute to approximately 77.16% of the total ownership of Fidelity National Financial’s stock.
Fidelity National Financial has been the subject of extensive research reports which have shed significant light on the company’s performance. StockNews.com initiated coverage on Fidelity National Financial and assigned a “hold” rating to the company. Truist Financial increased their price objective from $48.00 to $52.00, giving the stock a “buy” rating. TheStreet also upgraded their rating from “c+” to “b.” BTIG Research raised the price target of Fidelity National Financial shares to $48.00 and designated it as a “buy.” Stephens reiterated an “overweight” rating and set a $48.00 price objective. As per data from Bloomberg, Fidelity National Financial currently enjoys a consensus rating of “Moderate Buy,” with an average target price of $47.17.
In terms of recent news involving Fidelity National Financial, CEO Michael Joseph Nolan executed a transaction in which he sold 30,000 shares of the company’s stock on September 11th at an average price of $43.12 per share, totalling $1,293,600. Following this sale, Mr. Nolan now directly owns 354,786 shares worth approximately $15,298,372.
On September 13th, NYSE:FNF opened at $42.64 with a market capitalization of $11.60 billion and a PE ratio of 22.56.This indicates that Fidelity National Financial’s stock has remained relatively stable over time.
Overall, these developments demonstrate increasing interest in Fidelity National Financial among institutional investors and highlight assessments by various research firms that suggest positive growth prospects for the company’s stock in the future.