Fidelity National Financial In Stock Price, News & Analysis

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.

Fidelity National Financial (NYSE: FNF) has declared a quarterly cash dividend increase from $0.44 to $0.45 per share. This adjustment reflects the company's commitment to returning value to its shareholders. The new dividend will be payable on December 30, 2022, to stockholders on record as of December 16, 2022. FNF is the largest title insurance provider in the U.S., issuing more policies than any other title company nationwide.

Fidelity National Financial (NYSE: FNF) will announce its third quarter 2022 earnings on November 8, 2022, after market close. A conference call to discuss the results is scheduled for November 9, 2022, at 11:00 a.m. ET. Investors can access the call via FNF's Investor Relations website or by telephone. The company is a leading provider of title insurance and transaction services within the real estate and mortgage sectors, and operates F&G, focusing on insurance solutions for retail and institutional clients.

IPX1031 has appointed Milissa Ormiston-Hall as Vice President for Oregon and SW Washington, enhancing its Pacific Northwest operations. With over 26 years of experience in 1031 Exchanges and corporate sales, Ormiston-Hall will educate clients and professionals on tax-deferred exchanges. IPX1031 is a leading Qualified Intermediary and is a subsidiary of Fidelity National Financial (NYSE: FNF), known for its expertise and security in exchange fund management.

Fidelity National Financial (NYSE: FNF) announced the appointment of Ray Marine and Don DuBois as Co-Presidents of Western Operations on October 4, 2022. This change follows Roger Jewkes' decision to transition to a more flexible role after years as COO and President. Ray Marine brings 35 years of experience in title operations, while Don DuBois has been with the company for 28 years, focusing on sales and title operations in Southern California. The leadership transition is expected to strengthen FNF's operational capabilities.

Fidelity National Financial (FNF) has appointed Melissa Circelli as the new Chief Human Resources Officer. With over 25 years of experience, Circelli will oversee human resources, employee relations, and diversity initiatives within FNF, which employs over 21,000 people across 1,300 locations in the U.S. and Canada. Tony Park, CFO of FNF, noted the importance of engaging and retaining top talent in a diverse workforce. Circelli previously held HR leadership roles at Cigna, Volvo, and Black Knight Financial Services.