Allstate Corp Decreases Holdings in Fiserv, Inc. (NYSE:FI)

Allstate Corp trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,924 shares of the business services provider’s stock after selling 103 shares during the period. Allstate Corp’s holdings in Fiserv were worth $307,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FI. Cooper Financial Group grew its holdings in shares of Fiserv by 3.1% in the first quarter. Cooper Financial Group now owns 2,243 shares of the business services provider’s stock worth $358,000 after acquiring an additional 67 shares during the period. Quent Capital LLC grew its holdings in shares of Fiserv by 5.9% in the first quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock worth $194,000 after acquiring an additional 68 shares during the period. Manchester Capital Management LLC grew its holdings in shares of Fiserv by 0.8% in the first quarter. Manchester Capital Management LLC now owns 9,782 shares of the business services provider’s stock worth $1,563,000 after acquiring an additional 73 shares during the period. BSW Wealth Partners grew its holdings in shares of Fiserv by 2.8% in the first quarter. BSW Wealth Partners now owns 2,821 shares of the business services provider’s stock worth $451,000 after acquiring an additional 76 shares during the period. Finally, Eagle Bay Advisors LLC grew its holdings in shares of Fiserv by 13.7% in the first quarter. Eagle Bay Advisors LLC now owns 656 shares of the business services provider’s stock worth $105,000 after acquiring an additional 79 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $148.47, for a total transaction of $3,563,280.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,304,390.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total transaction of $416,528.00. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The disclosure for this sale can be found here. Insiders sold 50,800 shares of company stock worth $7,696,448 in the last 90 days. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the subject of several recent research reports. Stephens reissued an “equal weight” rating and set a $165.00 price target on shares of Fiserv in a report on Wednesday, April 24th. TD Cowen boosted their price target on Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. KeyCorp upped their price objective on Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. BMO Capital Markets upped their price objective on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, B. Riley upped their price objective on Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.76.

Fiserv Stock Up 1.7 %

NYSE FI traded up $2.59 during midday trading on Monday, hitting $158.63. 1,915,961 shares of the company traded hands, compared to its average volume of 2,475,715. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $92.81 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The company’s 50-day simple moving average is $150.78 and its 200-day simple moving average is $149.19. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts forecast that Fiserv, Inc. will post 8.69 earnings per share for the current year.

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.