AAFMAA Wealth Management & Trust LLC Grows Holdings in Fiserv, Inc. (NYSE:FI)

AAFMAA Wealth Management & Trust LLC grew its position in Fiserv, Inc. (NYSE:FI) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,214 shares of the business services provider’s stock after acquiring an additional 573 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in Fiserv were worth $1,593,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FI. Jacobi Capital Management LLC increased its stake in shares of Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Fiserv by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock valued at $794,000 after buying an additional 44 shares in the last quarter. Parkside Financial Bank & Trust raised its stake 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 buying an additional 45 shares during the period. Hemington Wealth Management raised its stake in shares of Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after buying an additional 50 shares during the period. Finally, Pointe Capital Management LLC lifted its position in shares of Fiserv by 1.8% during the 4th quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider’s stock valued at $649,000 after buying an additional 56 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FI shares. Piper Sandler set a $218.00 price target on shares of Fiserv in a report on Friday, April 25th. Citigroup cut their target price on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Mizuho set a $200.00 price target on shares of Fiserv in a research report on Thursday, May 15th. Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Finally, Truist Financial began coverage on Fiserv in a research note on Monday, June 2nd. They set a “buy” rating and a $181.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $220.27.

Fiserv Stock Up 0.9%

NYSE FI opened at $166.90 on Friday. The business’s fifty day simple moving average is $185.54 and its 200-day simple moving average is $205.52. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm has a market cap of $92.54 billion, a PE ratio of 30.96, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 earnings per share. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares of the company’s stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.75% of the company’s stock.

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.