MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Position in Fiserv, Inc. (NYSE:FI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,277 shares of the business services provider's stock after acquiring an additional 2,248 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Fiserv were worth $40,252,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Ritholtz Wealth Management grew its stake in shares of Fiserv by 35.7% in the 1st quarter. Ritholtz Wealth Management now owns 6,927 shares of the business services provider's stock valued at $1,530,000 after buying an additional 1,821 shares during the period. Avaii Wealth Management LLC purchased a new stake in shares of Fiserv in the 1st quarter valued at approximately $205,000. Tritonpoint Wealth LLC grew its stake in shares of Fiserv by 7.6% in the 1st quarter. Tritonpoint Wealth LLC now owns 1,847 shares of the business services provider's stock valued at $408,000 after buying an additional 131 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in shares of Fiserv in the 1st quarter valued at approximately $213,000. Finally, CVA Family Office LLC grew its stake in shares of Fiserv by 2.5% in the 1st quarter. CVA Family Office LLC now owns 2,709 shares of the business services provider's stock valued at $598,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FI. JPMorgan Chase & Co. lowered their price objective on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Monness Crespi & Hardt cut shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective for the company. in a research report on Wednesday, April 9th. Truist Financial began coverage on shares of Fiserv in a research report on Monday, June 2nd. They set a "buy" rating and a $181.00 price objective for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $220.27.

Fiserv Stock Down 3.1%

Shares of FI traded down $5.23 during midday trading on Friday, reaching $162.79. The stock had a trading volume of 3,499,748 shares, compared to its average volume of 3,265,879. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The company's fifty day simple moving average is $181.52 and its two-hundred day simple moving average is $203.56. The company has a market cap of $90.26 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the business earned $1.88 EPS. The company's revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president now owns 25,385 shares of the company's stock, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $403,628.16. Following the completion of the sale, the insider now directly owns 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 company insiders.

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.