The mortgage and real estate industries are extensive users of title insurance. Fidelity National Financial happens to be a leading provider of such insurance. Strong homebuilding and home buying activity is a tailwind for Fidelity National Financial. Low-interest rates and a robust post-pandemic economy are also causing stocks like Fidelity National to share the limelight. It is considered by some investors to be among the top insurance stocks at this time. Fidelity National Financial, through its subsidiaries, also offers life insurance and annuity products. Fidelity National Financial has its headquarters in Jacksonville, Florida. Fidelity National Financial is ranked 288 on Fortune’s 2021 list of America’s largest companies.
Second Quarter 2021 Earnings Release
On 3rd August 2021, Fidelity National Financial announced its Q22021 earnings results. Total revenue from title premiums and escrow-related fees were up from $2.1 billion in Q22020 to $3.1 billion in Q22021. Total revenue, including interest income and other gains, was also up from $2.42 billion to $3.85 billion. Company CEO Raymond Quirk said that the uptick in real estate activity had benefited the company. He also added that low-interest rates had led to strong origination performance. On the digital front, the company crossed a milestone of having 1 million customers opening their digital start here origination package. Earnings per share on a diluted basis from continuing operations jumped from $1.09 in Q22020 to $1.9 in Q22021. Total retail annuity sales for the quarter also rose significantly by 80% as compared to the same quarter the previous year. Fidelity National Financial had a strong performance financially and is among the best insurance stocks out there.
Top Insurance Stocks
Fidelity National Financial’s stock has been up 4X over the last ten years, as measured in October 2021. The stock has doubled since the March 2020 market crash. The last traded price of $45 is not far from the 52-week high of $49.