MetLife Investment Management LLC Acquires 519 Shares of Fiserv, Inc. (NYSE:FI)

MetLife Investment Management LLC raised its stake in Fiserv, Inc. (NYSE:FI) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,477 shares of the business services provider’s stock after acquiring an additional 519 shares during the quarter. MetLife Investment Management LLC’s holdings in Fiserv were worth $32,554,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Fiserv in the fourth quarter valued at about $1,406,452,000. Raymond James Financial Inc. acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $614,982,000. Alliancebernstein L.P. raised its holdings in Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after buying an additional 2,153,554 shares during the last quarter. FMR LLC boosted its position in Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after buying an additional 2,126,419 shares during the period. Finally, Winslow Capital Management LLC bought a new stake in Fiserv during the 4th quarter worth approximately $363,031,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

FI opened at $208.51 on Friday. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The company has a market cap of $116.47 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.52 and a beta of 0.91. The company’s fifty day moving average price is $219.31 and its two-hundred day moving average price is $211.50. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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%. On average, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target 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. KeyCorp lifted their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup increased their price target on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic reissued a “sell” rating and set a $150.00 target price on shares of Fiserv in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.79.

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.