Fidelity National OKs Stock Repurchase

Fidelity National Financial Inc. authorized the repurchase of up to 5 million shares of common stock in the open market, in block transactions or in privately negotiated transactions, depending on market conditions and other factors.

Fidelity’s stock, which has lost nearly 40% of its value this year, closed Wednesday at $22.24, up $2.14 a share, on the New York Stock Exchange.

The Irvine provider of title insurance and real estate-related services has about 78.2 million shares outstanding.