Fiserv, Inc. (NYSE:FI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 158,493 shares of the business services provider’s stock after selling 375 shares during the quarter. Corebridge Financial Inc.’s holdings in Fiserv were worth $32,558,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Sanders Capital LLC acquired a new position in Fiserv during the 3rd quarter valued at about $764,543,000. Bank of New York Mellon Corp raised its position in shares of Fiserv by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after buying an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after acquiring an additional 90,475 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Fiserv in the fourth quarter valued at approximately $614,982,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

FI has been the topic of several recent analyst reports. KeyCorp boosted their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Stephens boosted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley raised their target price on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Barclays boosted their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Citigroup upped their price target on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

Fiserv Stock Performance

FI stock opened at $218.01 on Monday. The firm has a 50 day moving average of $220.46 and a two-hundred day moving average of $206.46. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The company has a market capitalization of $122.37 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has initiated a share repurchase 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.