TCW Group Inc. Sells 22,059 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• TCW Group Inc. reduced its holdings in Fiserv, Inc. by 3.2% in the first quarter, now owning approximately 0.12% of Fiserv's stock, valued at $149.24 million.
• Multiple institutional investors have also adjusted their stakes, with LPL Financial LLC increasing its position by 16.8% during the same period.
• Fiserv reported a revenue of $5.20 billion for the quarter, exceeding analysts' expectations, and had a return on equity of 19.69%.

TCW Group Inc. decreased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 675,821 shares of the business services provider's stock after selling 22,059 shares during the quarter. Fiserv makes up 1.3% of TCW Group Inc.'s holdings, making the stock its 17th biggest position. TCW Group Inc. owned about 0.12% of Fiserv worth $149,242,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Fiserv by 1.2% in 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 purchasing an additional 44 shares during the period. Rappaport Reiches Capital Management LLC increased its position in shares of Fiserv by 3.9% in the first quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock worth $282,000 after purchasing an additional 48 shares during the period. Adero Partners LLC increased its position in shares of Fiserv by 2.3% in the first quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock worth $550,000 after purchasing an additional 55 shares during the period. Oakworth Capital Inc. increased its position in shares of Fiserv by 5.6% in the first quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock worth $235,000 after purchasing an additional 56 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Fiserv by 6.4% in the first quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider's stock valued at $206,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank Of Canada set a $237.00 price objective on Fiserv in a research note on Friday, April 25th. 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. Mizuho reduced their price objective on Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a research note on Tuesday. 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. Finally, Piper Sandler set a $218.00 price objective on Fiserv in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Trading Down 0.6%

Shares of Fiserv stock traded down $0.82 during midday trading on Thursday, reaching $140.03. The company had a trading volume of 2,762,297 shares, compared to its average volume of 4,443,064. The stock has a fifty day moving average price of $163.54 and a 200 day moving average price of $193.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $76.12 billion, a PE ratio of 23.39, a P/E/G ratio of 0.93 and a beta of 0.91. Fiserv, Inc. has a fifty-two week low of $128.22 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 earnings per share. On average, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insider Buying and Selling

In other Fiserv news, 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 value of $403,628.16. Following the completion of the sale, the insider directly owned 53,385 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was 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.

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.