AE Wealth Management LLC Has $4.06 Million Stake in Fiserv, Inc. (NASDAQ:FISV)

Posted by Defense World Staff on Apr 18th, 2023

AE Wealth Management LLC raised its holdings in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,135 shares of the business services provider’s stock after acquiring an additional 1,581 shares during the period. AE Wealth Management LLC’s holdings in Fiserv were worth $4,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FISV. AMI Investment Management Inc. grew its stake in Fiserv by 33.6% in the first quarter. AMI Investment Management Inc. now owns 27,999 shares of the business services provider’s stock valued at $2,839,000 after acquiring an additional 7,047 shares during the period. American Century Companies Inc. boosted its position in shares of Fiserv by 10.4% during the first quarter. American Century Companies Inc. now owns 9,227 shares of the business services provider’s stock worth $936,000 after buying an additional 870 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Fiserv by 158.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 963 shares of the business services provider’s stock worth $98,000 after buying an additional 590 shares during the period. Prudential PLC acquired a new position in shares of Fiserv during the first quarter worth about $1,095,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Fiserv during the first quarter worth about $357,000. 88.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FISV has been the subject of several recent research reports. Truist Financial upped their price objective on Fiserv from $95.00 to $105.00 in a research report on Wednesday, February 8th. Mizuho reaffirmed a “buy” rating and set a $135.00 price objective on shares of Fiserv in a research report on Wednesday, February 8th. Morgan Stanley upped their price objective on Fiserv from $107.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Citigroup upped their target price on Fiserv from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, Robert W. Baird upped their target price on Fiserv from $132.00 to $138.00 in a report on Wednesday, February 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.63.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 1,063 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $105.03, for a total transaction of $111,646.89. Following the sale, the chief operating officer now owns 201,623 shares of the company’s stock, valued at $21,176,463.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CRO Christopher M. Foskett sold 9,000 shares of the stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $111.00, for a total transaction of $999,000.00. Following the sale, the executive now owns 97,665 shares of the company’s stock, valued at $10,840,815. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Guy Chiarello sold 1,063 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $105.03, for a total value of $111,646.89. Following the sale, the chief operating officer now directly owns 201,623 shares in the company, valued at approximately $21,176,463.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,000 shares of company stock worth $3,184,560. Company insiders own 1.00% of the company’s stock.

Fiserv Price Performance

Shares of NASDAQ FISV opened at $117.11 on Tuesday. The firm has a market cap of $73.43 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.66. Fiserv, Inc. has a 1-year low of $87.03 and a 1-year high of $119.48. The business’s 50 day moving average is $113.67 and its 200-day moving average is $105.22.

Fiserv (NASDAQ:FISV – Get Rating) last announced its earnings results on Tuesday, February 7th. The business services provider reported $1.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.91. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.35 billion. Fiserv had a return on equity of 13.32% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 7.32 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a share buyback plan on Thursday, February 23rd that allows the company to repurchase 75,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Fiserv Profile

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.