The Manufacturers Life Insurance Company Sells 66,007 Shares of Fiserv, Inc. $FI

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Fiserv, Inc. by 12.1%, now holding approximately 0.09% of the company worth $105.65 million.
• JPMorgan Chase & Co. significantly increased its position in Fiserv by 77.2%, now owning over 15 million shares valued at $3.39 billion.
• Analysts have adjusted their price targets for Fiserv, with most now between $165 and $190, while maintaining a consensus rating of "Moderate Buy."

The Manufacturers Life Insurance Company reduced its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,427 shares of the business services provider's stock after selling 66,007 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Fiserv worth $105,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vega Investment Solutions bought a new position in Fiserv during the 4th quarter worth $25,000. Park Square Financial Group LLC bought a new position in Fiserv during the 4th quarter worth $28,000. Abound Financial LLC bought a new position in Fiserv during the 1st quarter worth $38,000. Quarry LP increased its stake in Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after acquiring an additional 70 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new position in Fiserv during the 4th quarter worth $54,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Trading Down 1.0%

NYSE FI traded down $1.44 on Tuesday, reaching $136.74. The company had a trading volume of 4,911,876 shares, compared to its average volume of 4,450,029. The firm has a market cap of $74.33 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 0.90 and a beta of 0.94. Fiserv, Inc. has a fifty-two week low of $128.22 and a fifty-two week high of $238.59. The business has a 50 day moving average of $151.06 and a two-hundred day moving average of $180.49. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period last year, the business posted $2.13 EPS. The business's revenue was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. Analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FI shares. Jefferies Financial Group lowered 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. Deutsche Bank Aktiengesellschaft started coverage on Fiserv in a report on Thursday, July 17th. They issued a "buy" rating and a $200.00 target price on the stock. Wall Street Zen raised Fiserv from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Susquehanna reduced their target price on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a report on Thursday, July 24th. Finally, Tigress Financial increased their price target on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $207.36.

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.