Citizens Financial Group Inc. RI Makes New Investment in Fiserv, Inc. (NYSE:FI)

Citizens Financial Group Inc. RI bought a new stake in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,011 shares of the business services provider’s stock, valued at approximately $1,596,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DAVENPORT & Co LLC grew its holdings in shares of Fiserv by 18.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock worth $1,483,000 after purchasing an additional 2,002 shares during the period. Exchange Traded Concepts LLC boosted its stake in Fiserv by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock worth $1,151,000 after buying an additional 1,859 shares during the period. Private Trust Co. NA increased its position in shares of Fiserv by 60.4% during the third quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock valued at $246,000 after acquiring an additional 821 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Fiserv by 1.0% in the 3rd quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 147 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Fiserv by 14.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,660 shares of the business services provider’s stock worth $526,000 after acquiring an additional 578 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,847,871.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 111,575 shares of company stock valued at $17,022,387 in the last ninety days. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

FI traded up $2.60 during trading on Friday, hitting $155.89. The stock had a trading volume of 3,196,489 shares, compared to its average volume of 2,315,910. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $159.99. The firm has a market capitalization of $91.21 billion, a P/E ratio of 29.14, a PEG ratio of 1.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. The company’s 50-day moving average price is $152.54 and its 200 day moving average price is $137.74.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FI has been the subject of several research analyst reports. KeyCorp raised their price target on Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Barclays lifted their target price on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Citigroup increased their price target on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets increased their target price on shares of Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

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.