Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Keith Meister’s Corvex Capital Reveals a 7% Stake in Fidelity National Financial

Keith Meister, a former pupil of Carl Icahn, has just revealed a new stake in Fidelity National Financial Inc (NYSE:FNF). Meister and his hedge fund, Corvex Capital, own 7% of the insurance and mortgage servicer, which adds to the relatively slim exposure they had to the financial sector.

Keith Meister

The stock of Fidelity has been up 20% since January. Last week, the company reported about its public offering under which it plans to sell 17.25 million shares of its common stock for $26.75 apiece. In the third quarter of the year, the consolidated net revenue of Fidelity increased to $2.2 billion, from $2.0 billion a year ago. Net earnings, however, dropped to $98 million, from $234 million.

Jonathon Jacobson’s Highfields Capital Management also holds shares of Fidelity, and his position contained around 6.4 million at the end of the second quarter.

Disclosure: none

Recommended Reading:

Baker Bros. Advisors Sells Some MEI Pharma, Discloses a Massive Stake in Mirati Therapeutics

David Abrams Continues His Engility Holdings Selling Spree

4 Halloween Hedge Fund Moves Worth Watching