Corebridge Financial Inc. Has $33.53 Million Holdings in Fiserv, Inc. $FI

Key Points

• Corebridge Financial Inc. reduced its stake in Fiserv, Inc. by 4.2% in the first quarter, selling 6,638 shares and leaving them with 151,855 shares valued at approximately $33.5 million.
• Several institutional investors, including Northwestern Mutual Wealth Management and Groupe la Francaise, have increased their holdings in Fiserv, with a total of 90.98% of the stock now owned by institutional investors.
• Fiserv's recent financial performance includes a quarterly EPS of $2.47, slightly surpassing expectations, and an annual revenue increase of 8% year-over-year.

Corebridge Financial Inc. decreased its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,855 shares of the business services provider's stock after selling 6,638 shares during the period. Corebridge Financial Inc.'s holdings in Fiserv were worth $33,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Fiserv by 1.1% in the first quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider's stock worth $11,059,063,000 after purchasing an additional 535,407 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock valued at $3,390,793,000 after buying an additional 6,691,703 shares during the period. Massachusetts Financial Services Co. MA raised its position in Fiserv by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock valued at $1,829,451,000 after purchasing an additional 253,544 shares during the period. Nuveen LLC purchased a new stake in shares of Fiserv during the first quarter worth $1,722,584,000. Finally, Nuveen Asset Management LLC grew its stake in Fiserv by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after purchasing an additional 340,938 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FI shares. Barclays set a $175.00 target price on shares of Fiserv and gave the company an "overweight" rating in a research report on Monday, July 28th. KeyCorp reduced their price objective on Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Robert W. Baird reduced their price target on Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Morgan Stanley reduced their target price on Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Finally, Jefferies Financial Group reduced their price objective on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $207.36.

Fiserv Stock Down 0.2%

NYSE FI traded down $0.34 during trading on Thursday, hitting $137.64. 3,853,464 shares of the company traded hands, compared to its average volume of 4,453,331. The company has a market capitalization of $74.82 billion, a P/E ratio of 22.98, a PEG ratio of 0.90 and a beta of 0.91. Fiserv, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $152.68 and a 200 day simple moving average of $183.07.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

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.