TCW Group Inc. Sells 41,810 Shares of Fiserv, Inc. (NYSE:FI)

TCW Group Inc. reduced its position in Fiserv, Inc. (NYSE:FI) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 697,880 shares of the business services provider’s stock after selling 41,810 shares during the period. Fiserv accounts for approximately 1.2% of TCW Group Inc.’s portfolio, making the stock its 21st largest holding. TCW Group Inc. owned approximately 0.12% of Fiserv worth $143,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new stake in shares of Fiserv during the third quarter valued at about $50,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Fiserv by 46.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,867 shares of the business services provider’s stock worth $874,000 after buying an additional 1,542 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Fiserv by 1.5% in the third quarter. Lake Street Advisors Group LLC now owns 6,494 shares of the business services provider’s stock worth $1,167,000 after buying an additional 95 shares in the last quarter. Convergence Financial LLC lifted its holdings in shares of Fiserv by 61.1% in the third quarter. Convergence Financial LLC now owns 7,923 shares of the business services provider’s stock worth $1,423,000 after buying an additional 3,006 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Fiserv by 11.9% in the third quarter. Allworth Financial LP now owns 4,808 shares of the business services provider’s stock worth $864,000 after buying an additional 510 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Down 0.8 %

Shares of Fiserv stock opened at $232.47 on Friday. The company’s 50 day moving average price is $213.81 and its 200-day moving average price is $198.56. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99. The stock has a market capitalization of $132.26 billion, a price-to-earnings ratio of 43.13, a P/E/G ratio of 1.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FI shares. Royal Bank of Canada upped their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets upped their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Oppenheimer increased their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv currently has an average rating of “Buy” and a consensus target price of $239.83.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.

Fiserv 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.