Patriot Financial Group Insurance Agency LLC Has $1.47 Million Position in Fiserv, Inc. (NYSE:FI)

Patriot Financial Group Insurance Agency LLC raised its holdings in Fiserv, Inc. (NYSE:FI) by 22.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,674 shares of the business services provider’s stock after acquiring an additional 1,219 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Fiserv were worth $1,474,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $1,406,452,000. GAMMA Investing LLC raised its holdings in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock worth $843,991,000 after purchasing an additional 3,804,358 shares during the period. Raymond James Financial Inc. bought a new position in shares of Fiserv during the fourth quarter worth $614,982,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Fiserv by 343.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock valued at $576,527,000 after buying an additional 2,174,025 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after buying an additional 2,153,554 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

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

Analyst Ratings Changes

A number of research analysts have issued reports on FI shares. JPMorgan Chase & Co. decreased their target price on Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Mizuho set a $200.00 price objective on Fiserv in a research report on Thursday, May 15th. UBS Group dropped their target price on shares of Fiserv from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. BMO Capital Markets reduced their price target 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. Finally, Morgan Stanley reissued an “overweight” rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.27.

Fiserv Stock Up 0.9%

Fiserv stock opened at $166.90 on Monday. 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 company’s 50-day moving average is $185.54 and its 200-day moving average is $205.35. The firm has a market capitalization of $92.54 billion, a PE ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59.

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

Fiserv declared that its board has approved a stock buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.