The Manufacturers Life Insurance Company Cuts Stake in Fiserv, Inc. (NYSE:FI)

The Manufacturers Life Insurance Company lowered its position in shares of Fiserv, Inc. (NYSE:FI) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 544,131 shares of the business services provider’s stock after selling 25,576 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Fiserv worth $97,753,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FI. Waypoint Capital Advisors LLC raised its holdings in Fiserv by 1.7% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 3,118 shares of the business services provider’s stock worth $560,000 after purchasing an additional 51 shares in the last quarter. Optas LLC raised its holdings in Fiserv by 1.7% in the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after purchasing an additional 54 shares in the last quarter. Cedar Mountain Advisors LLC raised its holdings in Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd raised its holdings in Fiserv by 7.6% in the 3rd quarter. Covestor Ltd now owns 832 shares of the business services provider’s stock worth $150,000 after purchasing an additional 59 shares in the last quarter. Finally, West Bancorporation Inc. increased its stake in shares of Fiserv by 3.8% in the 3rd quarter. West Bancorporation Inc. now owns 1,648 shares of the business services provider’s stock worth $296,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Down 0.8 %

NYSE FI opened at $220.63 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average of $198.55 and a two-hundred day moving average of $172.29. The firm has a market capitalization of $125.52 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.70 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $126.68 and a 52 week high of $223.23.

Fiserv (NYSE:FI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on FI. Wells Fargo & Company raised their price objective on shares of Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price objective on shares of Fiserv from $222.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. StockNews.com upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. Jefferies Financial Group raised their price target on shares of Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley raised their price target on shares of Fiserv from $177.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Four 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 company’s stock. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.29.

Fiserv Company 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.