Fiserv, Inc. (NYSE:FI) Holdings Trimmed by Empire Life Investments Inc.

Key Points

• Empire Life Investments Inc. reduced its holdings in Fiserv, Inc. by 35% during Q1, now owning 106,249 shares valued at approximately $23.46 million, indicating it is the firm's 23rd largest holding.
• Insiders, including Adam L. Rosman and EVP Andrew Gelb, sold a combined total of over 8,000 shares recently, decreasing their ownership stakes by 4.49% and 18.21%, respectively.
• Wall Street analysts have set a consensus price target of $207.08 for Fiserv, with twenty-three analysts issuing a buy rating, showcasing confidence in the company’s growth potential.

Empire Life Investments Inc. lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 35.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,249 shares of the business services provider's stock after selling 57,268 shares during the period. Fiserv comprises about 1.5% of Empire Life Investments Inc.'s holdings, making the stock its 23rd largest position. Empire Life Investments Inc.'s holdings in Fiserv were worth $23,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vega Investment Solutions purchased a new stake in Fiserv in the 4th quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in Fiserv in the 4th quarter valued at approximately $28,000. Abound Financial LLC purchased a new stake in Fiserv in the 1st quarter valued at approximately $38,000. Quarry LP boosted its holdings in Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after purchasing an additional 70 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Fiserv in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 transaction of $403,628.16. Following the completion of the transaction, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Fiserv Price Performance

NYSE:FI traded down $0.06 during midday trading on Wednesday, hitting $134.22. 5,699,606 shares of the stock were exchanged, compared to its average volume of 6,792,579. Fiserv, Inc. has a one year low of $128.22 and a one year high of $238.59. The company has a market capitalization of $72.96 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 0.87 and a beta of 0.91. The business has a 50-day moving average price of $161.64 and a two-hundred day moving average price of $191.66. 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 (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping the consensus estimate of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter in the previous year, the company earned $2.13 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FI shares. JPMorgan Chase & Co. decreased their price target on Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Mizuho decreased their price target on Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 29th. Redburn Atlantic reissued a "sell" rating and set a $150.00 price target on shares of Fiserv in a research note on Thursday, April 17th. Truist Financial lifted their price objective on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Piper Sandler set a $218.00 price objective on Fiserv in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and a consensus price target of $207.08.

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.