Fifth Third Bancorp Sells 1,996 Shares of Fiserv, Inc. (NYSE:FI)

Fifth Third Bancorp reduced its position in Fiserv, Inc. (NYSE:FI) by 1.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 104,834 shares of the business services provider’s stock after selling 1,996 shares during the quarter. Fifth Third Bancorp’s holdings in Fiserv were worth $21,535,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new stake in shares of Fiserv during the 2nd quarter valued at about $60,000. Public Sector Pension Investment Board raised its stake in Fiserv by 62.6% in the second quarter. Public Sector Pension Investment Board now owns 21,739 shares of the business services provider’s stock valued at $3,240,000 after purchasing an additional 8,369 shares in the last quarter. APG Asset Management N.V. lifted its position in Fiserv by 42.1% during the second quarter. APG Asset Management N.V. now owns 163,793 shares of the business services provider’s stock valued at $22,777,000 after purchasing an additional 48,500 shares during the last quarter. MBB Public Markets I LLC purchased a new position in Fiserv in the 2nd quarter worth approximately $6,152,000. Finally, Legal & General Group Plc increased its holdings in shares of Fiserv by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after buying an additional 85,598 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other Fiserv news, CAO Kenneth Best sold 20,821 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Heidi Miller sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total value of $6,033,900.00. Following the transaction, the director now directly owns 33,235 shares of the company’s stock, valued at approximately $6,684,555.55. This trade represents a 47.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group upped their target price on shares of Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group upped their price objective on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Tigress Financial boosted their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Mizuho increased their price target on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen lifted their price target on shares of Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Fiserv Price Performance

FI stock opened at $208.90 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. Fiserv, Inc. has a 1 year low of $137.13 and a 1 year high of $223.23. The firm has a 50-day moving average of $209.02 and a 200 day moving average of $188.80. The company has a market cap of $118.85 billion, a P/E ratio of 40.17, a PEG ratio of 1.37 and a beta of 0.94.

About Fiserv

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.