Securian Asset Management Inc. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Securian Asset Management Inc. cut its stake in Fiserv, Inc. (NYSE:FI) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,576 shares of the business services provider’s stock after selling 1,266 shares during the period. Securian Asset Management Inc.’s holdings in Fiserv were worth $6,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in Fiserv in the third quarter valued at approximately $503,000. Assetmark Inc. lifted its holdings in Fiserv by 27.4% in the third quarter. Assetmark Inc. now owns 41,436 shares of the business services provider’s stock valued at $7,444,000 after acquiring an additional 8,923 shares during the last quarter. Covestor Ltd lifted its holdings in Fiserv by 7.6% in the third quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 59 shares during the last quarter. Sigma Planning Corp lifted its holdings in Fiserv by 16.7% in the third quarter. Sigma Planning Corp now owns 5,372 shares of the business services provider’s stock valued at $965,000 after acquiring an additional 767 shares during the last quarter. Finally, Baker Avenue Asset Management LP lifted its stake in Fiserv by 12.9% during the third quarter. Baker Avenue Asset Management LP now owns 3,661 shares of the business services provider’s stock worth $658,000 after purchasing an additional 417 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on FI shares. Stephens upped their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Oppenheimer upped their price target on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Compass Point began coverage on Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. Morgan Stanley increased their price objective on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Trading Down 0.3 %

Shares of FI opened at $213.91 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $218.65 and a 200-day simple moving average of $204.00. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The stock has a market cap of $120.06 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Equities analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.