Fiserv, Inc. (NYSE:FI) Position Reduced by Ilmarinen Mutual Pension Insurance Co

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co decreased its position in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the business services provider’s stock after selling 15,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Fiserv were worth $6,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in Fiserv during the first quarter worth approximately $27,000. Thrivent Financial for Lutherans increased its holdings in shares of Fiserv by 60.3% in the first quarter. Thrivent Financial for Lutherans now owns 291,330 shares of the business services provider’s stock valued at $32,927,000 after buying an additional 109,612 shares in the last quarter. KB Financial Partners LLC bought a new position in shares of Fiserv in the first quarter valued at $37,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Fiserv by 248.0% in the first quarter. Mercer Global Advisors Inc. ADV now owns 111,115 shares of the business services provider’s stock valued at $12,559,000 after buying an additional 79,187 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Fiserv in the first quarter valued at $31,648,000. Institutional investors own 89.69% of the company’s stock.

Analysts Set New Price Targets

FI has been the topic of several research reports. Credit Suisse Group upped their price target on Fiserv from $135.00 to $140.00 in a report on Thursday, July 27th. Jefferies Financial Group upped their price target on Fiserv from $120.00 to $130.00 in a report on Wednesday, July 19th. Stephens upped their price target on Fiserv from $125.00 to $135.00 in a report on Thursday, July 27th. Susquehanna lifted their price objective on shares of Fiserv from $140.00 to $170.00 in a research report on Thursday, July 27th. Finally, B. Riley lifted their price objective on shares of Fiserv from $148.00 to $151.00 in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.90.

Check Out Our Latest Stock Analysis on FI

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 6,750 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $125.75, for a total transaction of $848,812.50. Following the transaction, the chief operating officer now directly owns 173,856 shares of the company’s stock, valued at $21,862,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 20,250 shares of company stock valued at $2,512,688 over the last three months. 18.20% of the stock is currently owned by insiders.

Fiserv Trading Down 0.1 %

NYSE FI opened at $121.61 on Wednesday. Fiserv, Inc. has a 1-year low of $91.55 and a 1-year high of $130.74. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $74.14 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The firm’s fifty day simple moving average is $124.53 and its 200-day simple moving average is $119.31.

Fiserv (NYSE:FI – Get Free Report) last posted its earnings results on Wednesday, July 26th. The business services provider reported $1.81 EPS for the quarter, hitting the consensus estimate of $1.81. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.54 billion. Fiserv had a net margin of 13.60% and a return on equity of 14.15%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 7.44 earnings per share for the current fiscal year.

About Fiserv

(Free Report)

Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.