Principal Financial Group Inc. Has $193.30 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Principal Financial Group Inc. reduced its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 875,327 shares of the business services provider's stock after selling 53,866 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Fiserv worth $193,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 worth $794,000 after buying an additional 44 shares during the last quarter. Rappaport Reiches Capital Management LLC raised its stake in Fiserv by 3.9% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock valued at $282,000 after purchasing an additional 48 shares during the last quarter. Adero Partners LLC raised its stake in Fiserv by 2.3% during the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock valued at $550,000 after purchasing an additional 55 shares during the last quarter. Oakworth Capital Inc. raised its stake in Fiserv by 5.6% during the 1st quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock valued at $235,000 after purchasing an additional 56 shares during the last quarter. Finally, PDS Planning Inc raised its stake in Fiserv by 1.7% during the 1st quarter. PDS Planning Inc now owns 3,421 shares of the business services provider's stock valued at $755,000 after purchasing an additional 58 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on FI. UBS Group cut their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Tigress Financial upped their price target on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Robert W. Baird lowered their price objective on Fiserv from $250.00 to $225.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 18th. Citigroup cut their target price on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Redburn Atlantic restated a "sell" rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and an average price target of $221.23.

Fiserv Price Performance

Shares of Fiserv stock traded down $2.14 during midday trading on Monday, reaching $173.41. The company had a trading volume of 2,964,194 shares, compared to its average volume of 3,358,008. The stock has a fifty day simple moving average of $170.83 and a 200 day simple moving average of $199.45. The company has a market capitalization of $96.14 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 1.08 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The company's revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. As a group, equities research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction 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 sale, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on 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. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

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.