FNF

Fidelity National Financial Inc.

Finance/Real Estate


Presented:03/12/2013
Price:$24.70
Cap:$5.64B
Current Price:$61.78
Cap:$16.89B

Presented

Date03/12/2013
Price$24.70
Market Cap$5.64B
Ent Value$6.60B
P/E Ratio16.95x
Book Value$21.45
Div Yield2.1%
Shares O/S228.47M
Ave Daily Vol2,050,000
Short Int2.13%

Current

Price$61.78
Market Cap$16.89B
Fidelity National Financial, Inc., together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States. It operates through Title, BKFS, and Restaurant Group segments. The Title segment offers title insurance, escrow, and other title related services, including collection and trust activities, trustee’s sales guarantees, recordings and reconveyances, and home warranty insurance. The BKFS segment provides technology solutions, such as mortgage processing and workflow management software applications, and origination and default technology; and alternative valuation services, real estate and mortgage data, modeling and forecasting, and analytical tools that facilitate and automate various business processes in the life cycle of a mortgage. The Restaurant Group segment owns, operates, and franchises restaurants comprising O'Charley's, Ninety Nine Restaurants, Max & Erma's, Village Inn, and Bakers Square, as well as J. Alexander's and Stoney River Steakhouse and Grill concepts. The company also offers information used by title insurance underwriters, title agents, and closing attorneys to underwrite title insurance policies for real property sales and transfer; and distributes re-manufactured and new alternators, starters, constant velocity axles, and disc brake calipers for the light-duty aftermarket. Fidelity National Financial, Inc. was founded in 1847 and is headquartered in Jacksonville, Florida.

Highlights

The presenter is bullish on the outlook for FNF, the largest title insurance company in the US. He noted that $5 of the ~$25 stock price represents the value of other assets owned by the holding company, including Remy International (auto and truck parts), as well as some low-end restaurant chains. He is optimistic about the title insurance business (which is only trading at 7x earnings), given the potential for home prices and transaction volume to improve.

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Idea Discussion

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