Principal Financial Group Inc. reduced its holdings in First Data Corp (NYSE:FDC) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,127 shares of the business services provider’s stock after selling 20,792 shares during the quarter. Principal Financial Group Inc.’s holdings in First Data were worth $1,794,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc boosted its position in shares of First Data by 18.9% during the third quarter. Vanguard Group Inc now owns 46,971,246 shares of the business services provider’s stock valued at $1,149,387,000 after purchasing an additional 7,465,388 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of First Data by 14.4% during the third quarter. Bank of New York Mellon Corp now owns 12,192,568 shares of the business services provider’s stock valued at $298,352,000 after purchasing an additional 1,536,267 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of First Data by 4.1% during the fourth quarter. Nomura Holdings Inc. now owns 10,455,181 shares of the business services provider’s stock valued at $176,028,000 after purchasing an additional 413,390 shares in the last quarter. Sound Shore Management Inc. CT boosted its position in shares of First Data by 7.8% during the fourth quarter. Sound Shore Management Inc. CT now owns 9,765,897 shares of the business services provider’s stock valued at $165,141,000 after purchasing an additional 704,684 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of First Data by 55.8% during the third quarter. Morgan Stanley now owns 8,211,648 shares of the business services provider’s stock valued at $200,939,000 after purchasing an additional 2,939,632 shares in the last quarter. Hedge funds and other institutional investors own 56.69% of the company’s stock.
In other news, insider Ivo M. Distelbrink sold 20,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $25.36, for a total value of $507,200.00. Following the completion of the transaction, the insider now owns 274,114 shares in the company, valued at $6,951,531.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Whorley, Jr. sold 38,512 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $25.90, for a total value of $997,460.80. Following the completion of the transaction, the executive vice president now owns 188,289 shares of the company’s stock, valued at approximately $4,876,685.10. The disclosure for this sale can be found here. Insiders sold 375,384 shares of company stock valued at $9,680,575 in the last 90 days. Company insiders own 4.87% of the company’s stock.
Shares of NYSE:FDC opened at $25.12 on Friday. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.36 and a beta of 2.28. First Data Corp has a 12-month low of $14.73 and a 12-month high of $27.15. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.02 and a quick ratio of 1.02.
First Data (NYSE:FDC) last announced its quarterly earnings data on Wednesday, February 6th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.06. First Data had a return on equity of 18.14% and a net margin of 10.58%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, research analysts anticipate that First Data Corp will post 1.39 EPS for the current year.
Several equities research analysts recently weighed in on the company. SunTrust Banks lowered First Data from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Piper Jaffray Companies lowered First Data from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 6th. Cantor Fitzgerald lifted their price target on First Data to $25.00 and gave the company a “neutral” rating in a research report on Thursday, February 7th. Susquehanna Bancshares restated a “neutral” rating and set a $25.00 price target (down from $29.00) on shares of First Data in a research report on Thursday, February 7th. Finally, Zacks Investment Research lowered First Data from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Twenty research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $25.17.
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First Data Company Profile
First Data Corporation provides commerce enabled technology and solutions for merchants, financial institutions, and card issuers in the United States, Canada, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company operates through three segments: Global Business Solutions, Global Financial Solutions, and Network & Security Solutions.
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