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Russell Investments Group Ltd. Purchases 4,319 Shares of Fiserv, Inc. (NYSE:FI)

Fiserv logo with Business Services background

Key Points

  • Russell Investments Group Ltd. increased its stake in Fiserv, Inc. by 1.0%, acquiring an additional 4,319 shares, bringing its total holdings to approximately 437,759 shares valued at $96.42 million.
  • Analyst ratings for Fiserv have been mixed, with price targets being adjusted downward by firms like Stephens and Robert W. Baird, indicating potential concerns about the stock's future performance.
  • Fiserv reported an earnings per share (EPS) of $2.47 last quarter, beating estimates, with a quarterly revenue of $5.20 billion, reflecting an 8% increase year-over-year.
  • Looking to export and analyze Fiserv data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Russell Investments Group Ltd. boosted its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 437,759 shares of the business services provider's stock after acquiring an additional 4,319 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of Fiserv worth $96,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FI. Kestra Private Wealth Services LLC increased its position in Fiserv by 3.0% during the first quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock worth $1,743,000 after acquiring an additional 230 shares during the period. American National Bank & Trust boosted its stake in Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after buying an additional 1,983 shares in the last quarter. Evercore Wealth Management LLC acquired a new stake in Fiserv during the fourth quarter worth $54,981,000. Meridian Wealth Advisors LLC boosted its stake in Fiserv by 4.1% during the first quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after buying an additional 1,046 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in Fiserv by 0.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock worth $105,463,000 after buying an additional 2,589 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

FI has been the topic of a number of recent research reports. Tigress Financial lifted their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Citigroup decreased their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group decreased their price target on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fiserv in a research note on Thursday, July 17th. They set a "buy" rating and a $200.00 price target on the stock. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Get Our Latest Stock Report on FI

Insider Activity

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction dated 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 approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the business's 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 $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

Fiserv Price Performance

Shares of Fiserv stock traded up $0.22 during trading on Thursday, reaching $134.51. The company's stock had a trading volume of 4,158,267 shares, compared to its average volume of 6,827,426. The stock has a 50-day moving average price of $157.58 and a two-hundred day moving average price of $188.12. 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, Inc. has a one year low of $128.22 and a one year high of $238.59. The stock has a market capitalization of $73.12 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. During the same period in the previous year, the business posted $2.13 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Fiserv (NYSE:FI)

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