Allstate Corp Purchases 2,495 Shares of Fiserv, Inc. $FI

Key Points

• Allstate Corp increased its holdings in Fiserv, Inc. by 14.5% by purchasing an additional 2,495 shares, bringing its total to 19,720 shares valued at approximately $4.35 million.
• Other institutional investors, including Brighton Jones LLC and First Trust Advisors LP, made significant increases to their positions in Fiserv, showcasing strong interest in the company with ownership surpassing 90%.
• Fiserv's stock analysts have varied target prices, with notable decreases from KeyCorp and Goldman Sachs, and an average rating of "Moderate Buy" reflecting overall optimism despite recent adjustments.

Allstate Corp raised its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 14.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,720 shares of the business services provider's stock after purchasing an additional 2,495 shares during the period. Allstate Corp's holdings in Fiserv were worth $4,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Fiserv by 91.9% in the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after buying an additional 2,033 shares during the last quarter. First Trust Advisors LP lifted its position in Fiserv by 100.2% in the 4th quarter. First Trust Advisors LP now owns 234,392 shares of the business services provider's stock valued at $48,149,000 after acquiring an additional 117,302 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in Fiserv by 1,231.1% during the 4th quarter. Pinebridge Investments L.P. now owns 87,536 shares of the business services provider's stock valued at $17,982,000 after purchasing an additional 80,960 shares during the last quarter. MGO One Seven LLC raised its stake in shares of Fiserv by 10.1% in the fourth quarter. MGO One Seven LLC now owns 15,721 shares of the business services provider's stock worth $3,229,000 after purchasing an additional 1,436 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock valued at $794,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Activity

In other news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 completion of the sale, the insider directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. KeyCorp decreased their target price on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Mizuho dropped their target price on shares of Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a report on Tuesday, July 29th. Tigress Financial lifted their target price on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group dropped their price target on Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley reduced their price objective on Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Fiserv presently has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Stock Performance

FI opened at $140.0820 on Friday. The company has a 50 day simple moving average of $154.67 and a two-hundred day simple moving average of $185.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $76.15 billion, a P/E ratio of 23.39, a PEG ratio of 0.91 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly 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 during 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%.Fiserv's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 EPS. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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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