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

Securian Asset Management Inc. lessened its position in shares of Fiserv, Inc. (NYSE:FI) by 4.0% in the 4th quarter, according to its most recent 13F filing 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 quarter. Securian Asset Management Inc.’s holdings in Fiserv were worth $6,281,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FI. Sanders Capital LLC bought a new stake in shares of Fiserv in the 3rd quarter valued at approximately $764,543,000. Raymond James Financial Inc. bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $614,982,000. FMR LLC lifted its stake in shares of Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in shares of Fiserv by 1,238.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock opened at $213.91 on Wednesday. The stock has a market cap of $120.06 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The business has a 50-day simple moving average of $218.65 and a 200-day simple moving average of $204.00. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings results 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 return on equity of 17.93% and a net margin of 15.31%. On average, equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has initiated a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

FI has been the topic of several research reports. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Citigroup raised their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price objective on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Compass Point initiated coverage on Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average target price of $239.83.

Insiders Place Their Bets

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

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.