Truist Financial Corp Cuts Stake in Fiserv, Inc. (NYSE:FI)

Truist Financial Corp decreased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,622 shares of the business services provider's stock after selling 10,404 shares during the period. Truist Financial Corp's holdings in Fiserv were worth $53,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FI. Catalina Capital Group LLC raised its holdings in shares of Fiserv by 2.3% in the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider's stock worth $444,000 after buying an additional 48 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Fiserv by 1.2% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider's stock valued at $848,000 after buying an additional 50 shares during the last quarter. Hemington Wealth Management increased its position in shares of Fiserv by 6.1% in the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider's stock valued at $177,000 after acquiring an additional 50 shares during the period. Wealthcare Advisory Partners LLC raised its stake in Fiserv by 3.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider's stock worth $360,000 after acquiring an additional 51 shares during the last quarter. Finally, Optas LLC lifted its position in Fiserv by 1.7% during the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider's stock worth $578,000 after acquiring an additional 54 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction 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 represents 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. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

FI has been the topic of a number of recent research reports. Mizuho increased their price target on shares of Fiserv from $183.00 to $222.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. KeyCorp upped their target price on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Susquehanna boosted their price target on Fiserv from $230.00 to $270.00 and gave the company a "positive" rating in a report on Monday, February 10th. Keefe, Bruyette & Woods raised their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada lifted their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an "outperform" rating in a report 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's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $239.83.

Fiserv Price Performance

FI traded down $1.96 on Friday, hitting $232.47. 4,404,077 shares of the company's stock were exchanged, compared to its average volume of 2,787,555. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $237.99. The stock has a market cap of $132.26 billion, a price-to-earnings ratio of 43.13, a P/E/G ratio of 1.53 and a beta of 0.94. The firm has a 50-day moving average price of $213.81 and a 200-day moving average price of $198.28. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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%. 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 of Directors has authorized a share repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are 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.