Fidelity National Financial, Inc.
- Open
- 47.23
- Day high
- 47.41
- Day low
- 46.30
- Prev close
- 47.55
- Volume
- 1.9M
- Mkt cap
- $12.5B
- P/E (TTM)
- 16.1
- EPS (TTM)
- $2.88
- P/B
- 1.7
- P/S
- 0.8
- Yield
- 4.43%
- Per share
- $2.06
- ▼Insiders net selling -$7.2M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Fidelity National Financial, Inc. (FNF) is a Financial Services company listed on NYSE. The stock is down 20% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Fidelity National Financial, Inc. (FNF) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FNF earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $1.31 | $1.39 | +6.1% | $4.1B | +6.9% |
| May 7, 2026 | $1.09 | $0.93 | -14.7% | $3.2B | -10.7% |
| Feb 19, 2026 | $1.51 | $1.41 | -6.6% | $4.1B | +16.8% |
| Nov 6, 2025 | $1.42 | $1.57 | +10.6% | $3.9B | +10.4% |
| Aug 6, 2025 | $1.37 | $1.16 | -15.3% | $3.6B | +2.7% |
| May 7, 2025 | $1.10 | $0.78 | -29.1% | $718M | -78.4% |
| Feb 20, 2025 | $1.23 | $1.34 | +8.9% | $3.5B | +6.0% |
| Feb 21, 2024 | $1.02 | $0.75 | -26.5% | $3.4B | +18.7% |
| May 3, 2023 | $0.94 | $0.52 | -44.7% | $2.5B | +2.4% |
| Feb 22, 2023 | $1.28 | $1.06 | -17.2% | $2.6B | -13.1% |
| Aug 2, 2022 | $1.63 | $1.90 | +16.6% | $2.6B | -22.1% |
| Feb 23, 2022 | $1.63 | $2.16 | +32.5% | $4.8B | +49.4% |
FNF insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Ammerman Douglas Kdirector | Grant | 342 | — |
| Jul 2, 2026 | Shea Peter O Jrdirector | Grant | 1,071 | — |
| Jun 29, 2026 | SADOWSKI PETER Tofficer: EVP, Chief Legal Officer | Sell | 69,196 | $45.70 |
| Jun 25, 2026 | Dhanidina Halimdirector | Sell | 9,543 | $418.25 |
| May 12, 2026 | Nolan Michael Josephofficer: Chief Executive Officer | Grant | 39,542 | — |
| Apr 28, 2026 | SADOWSKI PETER Tofficer: EVP, Chief Legal Officer | Sell | 473 | $47.67 |
| Apr 1, 2026 | Ammerman Douglas Kdirector | Grant | 344 | — |
| Apr 1, 2026 | Shea Peter O Jrdirector | Grant | 1,077 | — |
| Jan 7, 2026 | Dhanidina Halimdirector | Sell | 6,000 | $55.90 |
| Jan 2, 2026 | Shea Peter O Jrdirector | Grant | 907 | — |
| Jan 2, 2026 | Ammerman Douglas Kdirector | Grant | 290 | — |
| Nov 18, 2025 | PARK ANTHONYofficer: EVP & Chief Financial Officer | Tax | 4,826 | $58.26 |
| Nov 18, 2025 | LANE DANIEL Ddirector | Sell | 6,367 | $57.63 |
| Nov 18, 2025 | QUIRK RAYMOND Rdirector, officer: Executive Vice-Chairman | Tax | 11,807 | $58.26 |
| Nov 18, 2025 | SADOWSKI PETER Tofficer: EVP, Chief Legal Officer | Tax | 4,561 | $58.26 |
Source: FNF SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full FNF insider & 13F page →Fidelity National Financial, Inc. company profile
Overview
Fidelity National Financial, Inc. (NYSE:FNF) is a leading provider of title insurance and real estate-related services in the United States, founded in 1847 and headquartered in Jacksonville, Florida. The company went public in 2005 and has grown through strategic acquisitions and organic expansion to become one of the largest title insurers in the nation. FNF operates through two primary business segments: its core Title segment, which provides title insurance and related services for real estate transactions, and its F&G segment, which offers annuity and life insurance products. The company has navigated various real estate market cycles and has diversified its revenue streams while maintaining its position as a market leader in the title insurance industry.
Business
Fidelity National Financial operates in two distinct but complementary financial services sectors. The company's primary business is title insurance, which protects property buyers and mortgage lenders against financial losses from defects in property titles. Title insurance is a specialized form of insurance that covers issues such as liens, encumbrances, or ownership disputes that may not be discovered during the property purchase process. Unlike other insurance products that protect against future events, title insurance protects against past events that could affect property ownership rights. The Title segment, which represents the majority of FNF's revenue, provides several related services beyond basic title insurance. These include escrow services (holding funds and documents during real estate transactions), trust activities, trustee sales guarantees, and home warranty insurance. The company also offers technology and transaction services to real estate professionals and mortgage lenders, including digital platforms that streamline the closing process. FNF's second major business segment is F&G (Fidelity & Guaranty Life), which provides annuity and life insurance products. This segment offers deferred annuities including fixed indexed, fixed rate, and immediate annuities, as well as indexed universal life insurance products. Annuities are financial products that provide guaranteed income streams, typically used for retirement planning, while life insurance provides death benefits to beneficiaries. Based on recent financial results, the Title segment generates approximately 60-65% of total revenue, while F&G contributes roughly 35-40% of consolidated earnings. The company also has smaller operations in real estate brokerage and mortgage transaction services.
Competitive moat
FNF's competitive moat is moderately strong, built primarily on regulatory barriers and market position advantages. The title insurance industry operates under significant state-level regulation, creating barriers to entry for new competitors. Title insurers must maintain substantial reserves, obtain state licenses, and demonstrate financial stability, which limits the number of viable competitors. The company benefits from network effects through its relationships with real estate agents, mortgage lenders, and other industry participants. These relationships, built over decades, create switching costs and provide referral advantages. FNF's scale advantages allow it to invest in technology platforms and maintain extensive geographic coverage that smaller competitors cannot match. However, the moat faces several challenges. The title insurance industry is commoditized to some degree, with limited ability to differentiate products significantly. Regulatory risks exist, as government entities occasionally question the necessity and pricing of title insurance. Technology disruption poses a potential threat, as blockchain and other technologies could theoretically reduce the need for traditional title insurance by creating more transparent property records. The F&G segment operates in the highly competitive annuity and life insurance market, where moats are generally weaker. Success depends on distribution relationships, product design, and investment management capabilities rather than structural advantages. The recent ratings upgrade to "A" from AM Best has improved F&G's competitive position by opening access to more distribution channels. Overall, FNF's moat is stronger in title insurance than in annuities, but both businesses face ongoing competitive pressures that require continuous investment in technology, relationships, and operational efficiency to maintain market position.
Risks & safety
FNF demonstrates a solid margin of safety with strong financial fundamentals, though cyclical earnings create some valuation complexity. **Cash and Liquidity Position:** - Cash and short-term investments: $4.3 billion (Q1 2025) - Strong operating cash flow generation: $1.1 billion (Q1 2025) - Free cash flow: $1.1 billion (Q1 2025) - Current ratio: 2.99, indicating strong liquidity **Debt and Solvency:** - Debt-to-equity ratio: 0.60, moderate leverage - Total assets: $98.2 billion vs. total liabilities: $89.4 billion - Strong balance sheet supported by insurance reserves - No immediate solvency concerns **Valuation Metrics:** - P/E ratio: 53.5 (elevated due to cyclically low earnings) - EV/EBITDA: 14.8 (reasonable for current cycle) - Price-to-book: 2.25 (moderate premium to book value) - Graham number suggests potential undervaluation at current levels **Other Considerations:** - Cyclical business model creates earnings volatility - Strong dividend coverage and commitment to $550M annual dividend - Insurance reserves provide additional financial stability - Geographic diversification reduces regional market risks
Recent development
Over the past few years, FNF has undertaken several strategic initiatives to strengthen its market position and adapt to changing industry conditions. The company has significantly invested in technology and artificial intelligence, including the development of its inHere Digital Platform, which has attracted over 1 million users and streamlines real estate transactions. FNF recently appointed its first Chief Artificial Intelligence Officer, demonstrating commitment to technological advancement. The company has pursued strategic acquisitions to expand its market presence, completing 11 acquisitions for over $200 million in 2022 alone, focusing primarily on smaller tuck-in agent acquisitions that enhance local market coverage. During market downturns, FNF has demonstrated disciplined cost management, reducing title segment headcount by approximately 26% in 2022 and consolidating office locations to generate monthly savings of $1 million in facilities costs. A major strategic development was the partial spin-off of F&G in 2020, with FNF retaining majority ownership (currently 82%). F&G has achieved significant milestones including an AM Best ratings upgrade to "A", which has opened access to new distribution channels and supported strong growth. F&G's assets under management have grown to $67.4 billion, representing a 16% increase year-over-year. FNF has maintained focus on commercial real estate opportunities, achieving record commercial revenue levels and expanding into emerging sectors like data centers. The company has also resumed share buyback programs and continues to evaluate potential strategic alternatives for F&G, including a possible tax-free spin-off after the five-year anniversary in June 2025. The company has strengthened its capital allocation strategy, maintaining strong dividend commitments while investing in growth opportunities and technology infrastructure to position for future market cycles.
FNF company profile · for informational purposes only — not investment advice.
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