Keith Meister, Corvex Capital Are Bullish on Fidelity National Financial Inc (FNF)

Keith Meister is bullish on Fidelity National Financial Inc (NYSE:FNF). According to a recent filing with the Securities and Exchange Commission, Meister has increased his fund’s holding of the stock to 18.2 million shares from 17.4 million shares previously reported. As a result, Corvex Capital’s current position accounts for 7.3% and is reportedly worth $475 million.

Fidelity National Information Services (NYSE:FIS)

Fidelity National Financial Inc (NYSE:FNF) has caught the attention of several hedge funds we track. During the third quarter of 2013, Jonathon Jacobson has increased his fund’s stake by 13%. In its latest 13F filing, Highfields Capital Management reported ownership of 7.2 million shares valued at $191 million. Jacobson’s optimism is shared by Lee Ainslie. His fund, Maverick Capital, increased its holding of Fidelity National Financial stock by 27% to 6.17 million shares valued at $164 million. Clint Carlson is not confident in the prospects of this company though. During Q3 he almost halved his fund’s stake. Carlson Capital holds 2.95 million shares reportedly worth $78 million.

Fidelity National Financial Inc (NYSE:FNF) offers insurance services in the United States. Since the start of the year the stock has advanced 25% to a current price of $30 per share. The company has a market cap of $6.89 billion and pays an annual dividend of $0.64, which represents a yield of 2.10%. The stock has a trailing Price to Earnings (P/E) ratio of 14.36 and a beta of 0.5, which makes it a fairly stable one.

During the third quarter of 2013 Fidelity National Financial recorded revenues of $2.17 billion, up 6.9% from the same period in 2012, and Earnings Per Share (EPS) of $0.43. For the current quarter, analysts expect the company to post $1.92 billion and earnings of $0.35 per share.

Disclosure: none

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