Fidelity National Financial In Stock Price, News & Analysis

Fidelity National Financial (FNF) has completed a distribution to its shareholders of approximately 15% of the common stock of its subsidiary, F&G, which is now trading on the NYSE under the symbol 'FG'. FNF retains an 85% ownership stake in F&G, which has seen assets under management grow to $42 billion, nearing its goal of $50 billion set during its acquisition in 2020. The CEO of F&G announced plans for a quarterly cash dividend starting in 2023, amounting to about $100 million per year. This move aims to enhance shareholder value and position F&G for continued growth.

Fidelity National Financial (NYSE: FNF) announces the participation of CEO Mike Nolan and CFO Tony Park in a virtual fireside chat at the KBW Title Insurance Day on December 1, 2022, at 10:00 a.m. ET. This event will discuss FNF's role as a leading provider of title insurance and transaction services. Investors can access the webcast through FNF's Investor Relations website, where a replay will be available after the event. FNF is known for being the largest title insurance company in the U.S., issuing more policies than any competitor.

Fidelity National Financial (FNF) has announced the acquisition of TitlePoint from Black Knight (BKI) for $225 million in cash. TitlePoint specializes in providing detailed property information and is a leader in real estate property research technology. This acquisition aims to enhance FNF's integration of property data and improve productivity within its operations. The transaction is expected to close in December 2022, pending customary conditions.

Black Knight (NYSE: BKI) has announced the sale of its TitlePoint line of business to Fidelity National Financial (NYSE: FNF) for $225 million in cash. TitlePoint, part of Black Knight's Data & Analytics segment, aids in title searches across the U.S. The decision to sell aligns with Black Knight's strategy to enhance investments in mortgage-specific software and core data analytics, while also addressing revenues sensitive to origination volumes. The transaction is projected to close in December 2022, contingent on customary closing conditions.

Fidelity National Financial (NYSE: FNF) announced that the SEC has declared effective F&G Annuities & Life's registration statement. FNF plans to distribute 15% of F&G's stock to its shareholders on December 1, 2022, with shareholders receiving 68 shares of F&G for every 1,000 shares of FNF held. "When-issued" trading for F&G will start on November 21, 2022, under the symbol FG WI, transitioning to regular trading on the distribution date. This separation will be subject to various conditions, and investors should consult tax advisors regarding potential implications.

Fidelity National Financial (NYSE: FNF) announced its acquisition of St. Louis Title, Security Title Insurance Agency, Accurate Disbursing, and Benchmark Title. This strategic move aims to strengthen FNF's presence in the St. Louis and Southern Illinois markets, enhancing service delivery to customers. The acquired companies, which have established themselves as leaders in the area since 2005, will continue operations under the leadership of current manager John Schaefer. This integration is expected to leverage combined resources, ensuring continued customer satisfaction and service excellence.

Fidelity National Financial (NYSE: FNF) announced a planned distribution of approximately 15% of F&G Annuities & Life, Inc.'s outstanding common stock to its shareholders. The record date is set for November 22, 2022, with a ratio of 68 shares of F&G for every 1,000 shares of FNF held. The distribution will be effective on December 1, 2022. FNF will retain around 85% ownership of F&G after the distribution. F&G is preparing for an NYSE listing under the symbol “FG.” This distribution will be treated as a taxable event for U.S. federal income tax.

Fidelity National Financial (FNF) reported Q3 2022 net earnings of $289 million ($1.05 per share), down sharply from $732 million ($2.57 per share) in Q3 2021. The decline is attributed to reduced refinance volumes and moderating residential purchase activity, though commercial orders showed resilience. Adjusted net earnings were $295 million ($1.07 per share), compared to $663 million in the previous year. Total revenue declined to $3.2 billion from $3.9 billion. FGF's gross sales totaled $2.9 billion, reflecting robust retail performance but a decrease in institutional sales. FNF continues to maintain solid capital management practices.

F&G Annuities & Life, an operating segment of Fidelity National Financial (FNF), has announced a new quarterly cash dividend program totaling approximately $100 million annually, starting in early 2023. The dividends are contingent on Board approval and regulatory requirements, reflecting the company’s confidence in its operating performance. Additionally, F&G plans to distribute about 15% of its common stock to FNF shareholders and will list on the NYSE under symbol FG. This initiative aims to enhance shareholder value while supporting future growth.