Fidelity National Likely Needs Lower Rates To Continue Its Rally (Rating Downgrade)
FNFFidelity National Financial(FNF) Seeking Alpha·2024-08-07 12:02
Bill Oxford Shares of Fidelity National Financial (NYSE:FNF) have been a strong performer over the past year, rising about 35%. While its core title business has struggled with the slow pace of mortgage transactions, its ownership of F&G (FG) and higher interest income on its investment portfolio have buoyed results. I last covered FNF in May, rating shares a “hold,” given my concern about the impact of high rates. Since then, the interest rate backdrop has become more favorable, enabling shares to mode ...