Livforsakringsbolaget Skandia Omsesidigt Buys 27,100 Shares of Fiserv, Inc. (NYSE:FI)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Fiserv, Inc. (NYSE:FI) by 120.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,671 shares of the business services provider’s stock after acquiring an additional 27,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fiserv were worth $10,969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in shares of Fiserv in the fourth quarter worth about $257,000. Principal Financial Group Inc. raised its holdings in Fiserv by 0.8% in the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock valued at $190,875,000 after buying an additional 7,183 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Fiserv in the 4th quarter valued at approximately $79,000. American National Bank & Trust raised its holdings in Fiserv by 2.4% in the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock valued at $18,956,000 after buying an additional 1,983 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in Fiserv by 20.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,661 shares of the business services provider’s stock valued at $1,574,000 after buying an additional 1,288 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $167.01 on Tuesday. The company has a fifty day simple moving average of $184.35 and a 200 day simple moving average of $204.97. Fiserv, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a market cap of $92.59 billion, a P/E ratio of 30.98, a PEG ratio of 1.52 and a beta of 0.90.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the firm posted $1.88 EPS. Fiserv’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FI shares. UBS Group dropped their price objective on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Truist Financial started coverage on shares of Fiserv in a report on Monday, June 2nd. They issued a “buy” rating and a $181.00 price objective for the company. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Jefferies Financial Group dropped their price target on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Tuesday, May 27th. Finally, Mizuho set a $200.00 price target on shares of Fiserv in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target of $220.27.

Insiders Place Their Bets

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company’s stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Fiserv Profile

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.