Fidelity National Financial In Stock Price, News & Analysis

Fidelity National Financial (NYSE: FNF) announced the launch of the inHere Experience Platform on December 10, 2020, aimed at revolutionizing real estate transactions. This platform enhances safety and transparency in buying, selling, or refinancing homes. Key components include startSafe, already used by over a million consumers, and a mobile app that facilitates communication between real estate professionals and clients. FNF intends to leverage its extensive network of title and settlement companies to expand market share and improve the closing experience.

Fidelity National Financial (FNF) announced that its President Mike Nolan, CFO Tony Park, and FGL Holdings CEO Chris Blunt will participate in a fireside chat at the Stephens Annual Investment Conference, scheduled for November 18, 2020, at 4:00 p.m. ET. The event will be available via live webcast on FNF's Investor Relations website. Additionally, management will engage in one-on-one and small group meetings with investors. FNF remains the largest title insurance provider in the U.S., issuing more policies than any competitor.

Fidelity National Financial (NYSE: FNF) reported strong third-quarter results for 2020, with total revenue of approximately $3.0 billion, up from $2.2 billion in 2019. Net earnings from continuing operations reached $406 million, compared to $250 million the previous year. Adjusted diluted EPS was $1.48, a significant increase from $1.10 in Q3 2019. The company saw a remarkable 83% increase in refinance orders opened and closed, while commercial revenue declined by 28%. FNF also announced a 9% dividend increase and plans for $500 million in share repurchases, reflecting commitment to shareholder value.

Fidelity National Financial (NYSE:FNF) announces the election of Sandra Morgan to its Board of Directors, effective November 9, 2020. Chairman William P. Foley, II expressed optimism about her contribution, highlighting her extensive experience in both public service and the private sector, including her recent role as Chairwoman of the Nevada Gaming Control Board. Morgan's diverse skills are expected to enhance value for FNF stakeholders, as the company continues to prioritize delivering strong performance in the title insurance and transaction services markets.

Fidelity National Financial (NYSE: FNF) has declared a 9% increase in its quarterly cash dividend, raising it to $0.36 per share from $0.33. This dividend will be payable on December 31, 2020, to shareholders of record by December 17, 2020. Additionally, the company announced plans for $500 million in share repurchases over the next year, depending on market conditions. These moves reflect a commitment to returning capital to shareholders while strengthening its financial position.

Fidelity National Financial (NYSE: FNF) will announce its 3rd quarter 2020 earnings on November 4, 2020, post-market hours. A conference call is scheduled for 12:00 p.m. ET on November 5, 2020. Participants can join via webcast on the company's Investor Relations site or by dialing in at 1-877-407-0784 for USA or 1-201-689-8560 for international calls. The replay of the conference call will be available until November 12, 2020.

AM Best has placed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” for F&G Reinsurance Ltd. under review with developing implications. This follows Fidelity National Financial's (FNF) definitive agreement to sell F&G Re to Aspida Holdings Ltd., a subsidiary of Ares Management Corporation. F&G Re will exit from F&G's strategic focus, reflected in the review status. The transaction is anticipated to close in Q4 2020, pending regulatory approval.

Fidelity National Financial (FNF) and F&G announced a definitive agreement to sell F&G Reinsurance Ltd to Aspida Holdings, an Ares Management subsidiary. F&G Re has around $2 billion in invested assets and focuses on reinsurance solutions for life and annuities. Proceeds will fund growth opportunities at F&G. The transaction includes a flow reinsurance agreement related to F&G's MYGA products. Closing is anticipated in Q4 2020, pending regulatory approval, with no material impact expected on FNF's GAAP results.

Fidelity National Financial (FNF) has delivered over 800,000 startSafe digital opening packages, enhancing the real estate transaction experience. More than 70% of these packages are opened, with an 85% completion rate for startSafe interviews, indicating strong consumer engagement. The company is introducing Mobile Deposit for earnest money, currently in select markets and expanding nationwide by the end of October. This initiative aims to improve convenience while reducing wire fraud risks, contributing to a safer, more user-friendly online experience for real estate transactions.