FNFV

Fidelity National Financial Inc

Finance/Real Estate, Event Driven/Special Sit


Presented:10/16/2015
Price:$11.96
Cap:$4.45B
Current Price:$19.45
Cap:$1.52B

Presented

Date10/16/2015
Price$11.96
Market Cap$4.45B
Ent Value$8.29B
P/E Ratio5.39x
Book Value$21.27
Div Yield0%
Shares O/S371.78M
Ave Daily Vol357,941
Short Int1.17%

Current

Price$19.45
Market Cap$1.52B
Fidelity National Financial, Inc.. The Group's principal activity is to provide title insurance, specialty insurance, claims management services and information services. It has three reporting segments: Fidelity National Title Group segment provides operations of title insurance underwriters and related businesses. Specialty Insurance segment consists of certain subsidiaries that issue flood, home warranty, homeowners, automobile and other personal lines insurance policies. Corporate and Other segment consists of the operations of the parent holding company.

Publicly traded companies mentioned herein: Fidelity National Financial Ventures (FNFV), Fidelity National Financial (FNF), FleetCor (FLT), J. Alexander’s (JAX) and Workday (WDAY)

Highlights

Fidelity National Financial Ventures was spun out of title company Fidelity National Financial (FNF). The holding company owns a handful of interesting assets, most notably Ceridian - a payroll processor that FNFV previously took private with Thomas H. Lee. The company also sold Comdata out of Ceridian to FleetCor (FLT), taking back FLT stock in return; FNFV has since monetized about two-thirds of that stake, but it still owns some FLT stock. The company also previously owned restaurant group J. Alexander’s (JAX), which was recently spun off tax free to shareholders. Other assets include American Blue Ribbon Holdings and fast growing online insurance broker Digital Insurance. Shares are currently trading at a steep discount to their intrinsic value, with the presenter calculating a sum of the parts value of $17.50 per share. 

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