Brooklyn Investment Group Boosts Position in Fiserv, Inc. $FI

by · The Markets Daily

Brooklyn Investment Group increased its stake in Fiserv, Inc. (NYSE:FI – Free Report) by 88.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,322 shares of the business services provider’s stock after acquiring an additional 3,908 shares during the quarter. Brooklyn Investment Group’s holdings in Fiserv were worth $1,838,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FI. Nuveen LLC bought a new position in Fiserv during the 1st quarter worth about $1,722,584,000. JPMorgan Chase & Co. grew its holdings in Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares in the last quarter. GAMMA Investing LLC grew its holdings in Fiserv by 21,681.0% during the 1st quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock worth $843,991,000 after acquiring an additional 3,804,358 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after acquiring an additional 2,174,025 shares in the last quarter. Finally, GQG Partners LLC bought a new position in Fiserv during the 1st quarter worth about $265,769,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president owned 25,385 shares of the company’s stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

NYSE:FI opened at $136.76 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $74.34 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 0.89 and a beta of 0.91. The company has a 50 day moving average price of $156.98 and a 200-day moving average price of $187.22. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59.

Fiserv (NYSE:FI – Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the company earned $2.13 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Fiserv from $181.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Mizuho lowered their price target on shares of Fiserv from $194.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, July 29th. Susquehanna lowered their price target on shares of Fiserv from $240.00 to $220.00 and set a “positive” rating on the stock in a report on Thursday, July 24th. Finally, BMO Capital Markets lowered their price target on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $207.08.

Check Out Our Latest Stock Report on FI

Fiserv Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NYSE:FI – Free Report).