Fidelity National Financial rises after quarterly profit beats expectations

Fidelity National Financial

21/02/2025 18:50

** Shares of title insurance provider Fidelity National
Financial  FNF.N  rise as much as 7.4%; last up 3.9% at $59.82
    ** FNF, late Thursday, posted Q4 adjusted profit of $366
million, or $1.34/shr, beating Wall Street expectations of
$1.24/shr, according to data compiled by LSEG
    ** The beat came as FNF's title business delivered strong
performance, with adjusted earnings from the segment jumping to
$263 million from $174 million a year earlier
    ** "Our title segment has significantly outperformed prior
cycle troughs and is well positioned for the eventual upturn in
the residential housing market once mortgage interest rates
begin to normalize" - Chairman William Foley II
    ** CEO Michael Nolan told analysts the firm remains bullish
on the long-term prospects for the title insurance business
given the pent-up demand and basic need for housing that is
expected to unleash growth over time
    ** As of last close, FNF stock up 2.5% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))