RiverFront Investment Group LLC Invests $208,000 in Fiserv, Inc. (NYSE:FI)

RiverFront Investment Group LLC acquired a new stake in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,013 shares of the business services provider’s stock, valued at approximately $208,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Horizon Investment Services LLC boosted its stake in shares of Fiserv by 7.2% in the fourth quarter. Horizon Investment Services LLC now owns 24,159 shares of the business services provider’s stock valued at $4,963,000 after buying an additional 1,617 shares in the last quarter. Level Four Advisory Services LLC lifted its holdings in Fiserv by 4.0% in the fourth quarter. Level Four Advisory Services LLC now owns 9,838 shares of the business services provider’s stock valued at $2,021,000 after acquiring an additional 377 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Fiserv by 935.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 425,336 shares of the business services provider’s stock worth $87,373,000 after purchasing an additional 384,263 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Fiserv by 4.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,224,227 shares of the business services provider’s stock worth $456,901,000 after purchasing an additional 89,228 shares during the period. Finally, New Age Alpha Advisors LLC grew its stake in shares of Fiserv by 16,700.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 17,472 shares of the business services provider’s stock worth $3,589,000 after purchasing an additional 17,368 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value 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. The trade was a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FI has been the topic of a number of research analyst reports. Susquehanna boosted their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. BMO Capital Markets upped their price target on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, KeyCorp lifted their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $242.32.

Fiserv Price Performance

FI stock opened at $216.15 on Friday. The company has a market cap of $121.32 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $222.00 and a two-hundred day moving average price of $207.91. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has approved a stock buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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.