FIDELITY NATIONAL FINANCIAL, INC.
In the published model solve dated 2026-Q2, anchored at $45.78, FIDELITY NATIONAL FINANCIAL, INC. (FNF) is priced for 13.1% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• Fidelity National Financial owns two businesses that want opposite things from interest rates: title insurance needs houses to change hands, and the F&G annuity arm sells better when yields are high, which is why neither half is ever quite in season at the same time. • Title economics are transactional rather than recurring, and the FY2025 annual report says so plainly: ⟦"Title insurance premiums are due in full at the closing of the real estate transaction."⟧ • The clearest signal to track is
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702 institutional managers reported holding FNF in 13F filings for the quarter ended 2026-03-31. Together they hold about 81% of the company; the top 10 hold 50%. 60 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 8.3M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (6.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FNF has cut its share count 12.8% over the past five years, spending $1.06B on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting), raised 6 years straight; the current rate is $2.02 a share annually. Cash returned over the past three years: $1.48B in dividends and $335.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at FNF over the trailing three years. Absence is a fact about the company, not a signal. 15 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FNF's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-02-28 | -5.8% | -12.9% |
| 2023-05-10 | -4.2% | +8.7% |
| 2023-08-10 | +2.2% | -6.0% |
| 2023-11-09 | +3.8% | +13.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FNF's latest 8-K filings: 2026-08-05 (items 2.02, 9.01); 2026-06-11 (items 5.03, 5.07, 9.01); 2026-05-12 (items 5.02, 9.01); 2026-05-06 (items 2.02, 9.01); 2026-02-19 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.