Principal Financial Group Inc. Sells 2,760 Shares of Fiserv, Inc. (NYSE:FI)

Principal Financial Group Inc. decreased its position in Fiserv, Inc. (NYSE:FI) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 922,010 shares of the business services provider’s stock after selling 2,760 shares during the quarter. Principal Financial Group Inc.’s holdings in Fiserv were worth $165,639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FI. Soros Capital Management LLC lifted its holdings in Fiserv by 71.7% during the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after acquiring an additional 22,884 shares during the period. Chiron Investment Management LLC bought a new stake in shares of Fiserv during the 3rd quarter worth $4,709,000. Maxwell Wealth Strategies Inc. raised its stake in shares of Fiserv by 23.6% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 15,009 shares of the business services provider’s stock worth $2,696,000 after purchasing an additional 2,869 shares during the period. Park Place Capital Corp boosted its holdings in shares of Fiserv by 66.3% in the 3rd quarter. Park Place Capital Corp now owns 7,008 shares of the business services provider’s stock worth $1,259,000 after buying an additional 2,794 shares during the last quarter. Finally, Radnor Capital Management LLC bought a new position in Fiserv during the third quarter valued at about $1,543,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

FI opened at $202.26 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $115.07 billion, a P/E ratio of 38.90, a PEG ratio of 1.56 and a beta of 0.93. The stock has a 50-day moving average price of $207.06 and a 200-day moving average price of $178.47. Fiserv, Inc. has a 12-month low of $131.41 and a 12-month high of $223.23.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. Equities analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on FI shares. Tigress Financial boosted their target price on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup upped their price target on Fiserv from $187.00 to $226.00 in a research report on Tuesday, October 22nd. KeyCorp lifted their price objective on Fiserv from $180.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on shares of Fiserv from $186.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $222.88.

Insiders Place Their Bets

In related news, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the sale, the director now directly owns 33,235 shares in the company, valued at $6,684,555.55. This represents a 47.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,821 shares of company stock valued at $18,581,095 over the last three months. 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.