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Keith Master Is Still Fond Of Fidelity National Financial Inc (FNF); Buys 1.95M Shares

Is it a good time to buy Fidelity National Financial Inc (NYSE:FNF) shares? Keith Meister seems to think so, as he has boosted his fund’s stake in the company according to a recent filing with the Securities and Exchange Commission. Meister’s fund, Corvex Capital, has disclosed the addition of 1.95 million shares to its previous position, taking it to 20.2 million shares. As a result, Corvex now has control over 7.3% of Fidelity National Financial Inc (NYSE:FNF)’s common stock.

Keith Meister

Larry Robins is also optimistic about the prospects of Fidelity National Financial Inc (NYSE:FNF) and has increased his fund’s stake in the company by 53% during the second quarter of this year. As a result, Glenview Capital reportedly holds 6.13 million shares valued at approximately $201 million. Jonathon Jacobson is also keeping tabs, with his fund, Highfields Capital Management, owning exactly 7.2 million shares, a position worth $236 million. William B. Gray, the manager of Orbis Investment Management, is not so optimistic though and has chosen to reduce his fund’s exposure to Fidelity National Financial Inc (NYSE:FNF). Orbis Investment has reported ownership of 8.27 million shares in its latest 13F filing, an investment valued at $271 million.

Fidelity National Financial Inc (NYSE:FNF) has been trending higher in 2014, advancing 4.2% so far to a current price of $27.71 per share. The stock is traded at a trialing Price to Earnings (P/E) ratio of 23.xx, while the Forward P/E of 12.79 suggests market participants expect the company to improve its financial performance. For the three months ending June 30, 2014, Fidelity National Financial Inc (NYSE:FNF) has reported revenues of $2.36 billion and earnings of $0.41 per diluted share. Analysts expect revenues of $2.04 billion and earnings per share of $0.54 for the current quarter.

Keith Meister is very bullish on Monsanto Company (NYSE:MON) having increased his bet by 668% during the second quarter of 2014. In its latest 13F filing, Corvex Capital has reported ownership of 3.45 million shares worth roughly $431 million. Signet Jewelers Ltd. (NYSE:SIG) is another key piece in Meister’s portfolio: 5.63 million shares, up 3% during the quarter, valued at $623 million.

Disclosure: none.

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