MetLife Investment Management LLC Cuts Stock Holdings in Fiserv, Inc. (NYSE:FI)

MetLife Investment Management LLC reduced its stake in Fiserv, Inc. (NYSE:FI) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,958 shares of the business services provider’s stock after selling 6,650 shares during the quarter. MetLife Investment Management LLC’s holdings in Fiserv were worth $28,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FI. Wellington Shields & Co. LLC bought a new position in shares of Fiserv in the 1st quarter worth $25,000. Family Firm Inc. bought a new position in Fiserv in the second quarter valued at $31,000. Clean Yield Group increased its stake in Fiserv by 431.3% in the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Cedar Mountain Advisors LLC raised its position in Fiserv by 42.5% during the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its stake in Fiserv by 95.5% during the second quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Trading Down 0.0 %

Shares of FI opened at $222.35 on Wednesday. Fiserv, Inc. has a 1-year low of $126.68 and a 1-year high of $223.23. The firm has a market capitalization of $126.50 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 1.70 and a beta of 0.92. The firm’s 50-day moving average price is $197.64 and its 200-day moving average price is $171.95. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm posted $1.96 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Fiserv, Inc. will post 8.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now owns 76,180 shares of the company’s stock, valued at $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. This represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 235,821 shares of company stock valued at $44,299,745 over the last ninety days. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the topic of several recent research reports. Citigroup increased their price objective on Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. KeyCorp increased their price target on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price objective on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Tigress Financial upped their price objective on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Stephens lifted their target price on shares of Fiserv from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.29.

Fiserv Company 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.