Amalgamated Bank Reduces Stake in Fiserv, Inc. (NYSE:FI)

Amalgamated Bank trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,907 shares of the business services provider’s stock after selling 848 shares during the quarter. Amalgamated Bank’s holdings in Fiserv were worth $24,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Sanders Capital LLC acquired a new position in Fiserv during the third quarter worth $764,543,000. FMR LLC grew its position in shares of Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Kovitz Investment Group Partners LLC increased its stake in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after purchasing an additional 561,377 shares in the last quarter. Mizuho Securities USA LLC raised its position in shares of Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares during the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in Fiserv in the 4th quarter valued at about $97,254,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Shares of Fiserv stock opened at $231.83 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a market capitalization of $130.12 billion, a price-to-earnings ratio of 43.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. The business has a 50-day moving average of $214.38 and a 200 day moving average of $199.36. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on FI. KeyCorp increased their target price on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Oppenheimer raised their price objective on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Citigroup increased their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley raised their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $239.83.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.

About Fiserv

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.