The Manufacturers Life Insurance Company Decreases Holdings in Fiserv Inc (NASDAQ:FISV)

The Manufacturers Life Insurance Company reduced its holdings in shares of Fiserv Inc (NASDAQ:FISV) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 395,318 shares of the business services provider’s stock after selling 61,060 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Fiserv worth $34,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bremer Bank National Association acquired a new stake in Fiserv in the first quarter valued at $25,000. Sontag Advisory LLC acquired a new stake in Fiserv in the fourth quarter valued at $27,000. JOYN Advisors Inc. raised its holdings in Fiserv by 80.0% in the fourth quarter. JOYN Advisors Inc. now owns 405 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 180 shares in the last quarter. Destination Wealth Management acquired a new stake in Fiserv in the fourth quarter valued at $30,000. Finally, WESPAC Advisors SoCal LLC acquired a new stake in Fiserv in the fourth quarter valued at $31,000. Institutional investors own 87.39% of the company’s stock.

Several analysts recently issued reports on the stock. BidaskClub raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, May 30th. Zacks Investment Research cut shares of Fiserv from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Susquehanna Bancshares assumed coverage on shares of Fiserv in a report on Friday, May 31st. They issued a “neutral” rating and a $95.00 price target on the stock. SunTrust Banks raised shares of Fiserv from a “hold” rating to a “buy” rating and upped their price target for the company from $91.00 to $100.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Finally, Moffett Nathanson assumed coverage on shares of Fiserv in a report on Tuesday, May 21st. They issued a “buy” rating and a $108.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Fiserv presently has an average rating of “Buy” and a consensus target price of $90.60.

Shares of FISV stock traded down $0.08 during trading hours on Wednesday, reaching $89.56. The stock had a trading volume of 1,247,916 shares, compared to its average volume of 4,824,764. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.45. Fiserv Inc has a twelve month low of $68.45 and a twelve month high of $91.38. The stock has a market cap of $35.55 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. Fiserv had a net margin of 16.81% and a return on equity of 50.83%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company earned $0.76 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts forecast that Fiserv Inc will post 3.45 EPS for the current fiscal year.

In related news, insider Jeffery W. Yabuki sold 50,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $83.96, for a total value of $4,198,000.00. Following the sale, the insider now owns 436,141 shares of the company’s stock, valued at approximately $36,618,398.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffery W. Yabuki sold 20,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $85.21, for a total transaction of $1,704,200.00. Following the completion of the sale, the chief executive officer now directly owns 391,146 shares in the company, valued at approximately $33,329,550.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,904 shares of company stock worth $8,738,657. Corporate insiders own 1.40% of the company’s stock.

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Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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