Allianz SE Decreases Stake in Fiserv, Inc. (NYSE:FI)

Key Points

• Allianz SE has reduced its stake in Fiserv, Inc. by 38.2%, now holding 7,383 shares worth approximately $1.63 million.
• Notably, several other hedge funds increased their stakes in Fiserv during the same period, with Commonwealth Equity Services LLC raising its investment by 5.1%.
• Fiserv reported $2.47 earnings per share for the last quarter, outperforming analysts' expectations of $2.43, with an 8.0% year-over-year revenue growth.

Allianz SE trimmed its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 38.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,383 shares of the business services provider's stock after selling 4,561 shares during the period. Allianz SE's holdings in Fiserv were worth $1,630,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in Fiserv by 5.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 114,099 shares of the business services provider's stock worth $25,196,000 after buying an additional 5,556 shares during the last quarter. Raiffeisen Bank International AG lifted its stake in Fiserv by 9.0% during the first quarter. Raiffeisen Bank International AG now owns 4,622 shares of the business services provider's stock worth $999,000 after purchasing an additional 382 shares during the last quarter. Fairfield Financial Advisors LTD lifted its stake in Fiserv by 69.0% during the first quarter. Fairfield Financial Advisors LTD now owns 1,048 shares of the business services provider's stock worth $231,000 after purchasing an additional 428 shares during the last quarter. Heritage Trust Co boosted its holdings in Fiserv by 0.5% in the first quarter. Heritage Trust Co now owns 42,148 shares of the business services provider's stock valued at $9,308,000 after purchasing an additional 225 shares in the last quarter. Finally, Argent Trust Co raised its holdings in Fiserv by 1.2% during the first quarter. Argent Trust Co now owns 32,527 shares of the business services provider's stock worth $7,183,000 after purchasing an additional 397 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Transactions at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider directly owned 53,385 shares of the company's stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Fiserv Trading Down 2.6%

NYSE FI opened at $135.34 on Monday. The stock has a market cap of $73.57 billion, a P/E ratio of 22.59, a PEG ratio of 0.88 and a beta of 0.91. The company's fifty day simple moving average is $162.62 and its 200-day simple moving average is $192.57. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analysts Set New Price Targets

FI has been the topic of several research analyst reports. Morgan Stanley cut their price target on Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Piper Sandler set a $218.00 price target on shares of Fiserv in a research report on Friday, April 25th. Barclays set a $175.00 price objective on shares of Fiserv and gave the stock an "overweight" rating in a research report on Monday, July 28th. Redburn Atlantic reaffirmed a "sell" rating and issued a $150.00 target price on shares of Fiserv in a report on Thursday, April 17th. Finally, Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and an average price target of $207.08.

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.

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