Allstate Corp Takes $3.54 Million Position in Fiserv, Inc. (NYSE:FI)

Allstate Corp bought a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, HoldingsChannel.com reports. The fund bought 17,225 shares of the business services provider’s stock, valued at approximately $3,538,000.

Several other hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC raised its stake in Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after buying an additional 44 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after acquiring an additional 45 shares during the last quarter. Catalina Capital Group LLC raised its stake in Fiserv by 2.3% in the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 48 shares during the period. Mount Yale Investment Advisors LLC lifted its holdings in Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 50 shares during the last quarter. Finally, Hemington Wealth Management increased its holdings in shares of Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 50 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. StockNews.com began coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating for the company. Oppenheimer raised their price objective on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Citigroup upped their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Barclays lifted their price target on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, BMO Capital Markets upped their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $242.32.

Insider Activity at Fiserv

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

Fiserv Trading Down 1.4 %

Shares of FI opened at $216.15 on Friday. 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, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The firm has a market cap of $121.32 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 1.52 and a beta of 0.93. The business’s fifty day moving average is $222.00 and its 200-day moving average is $207.91.

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

Fiserv declared that its board has initiated a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.