Principal Financial Group Inc. Lowers Holdings in Fiserv, Inc. $FISV

Principal Financial Group Inc. reduced its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 13.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 604,832 shares of the business services provider’s stock after selling 94,870 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Fiserv worth $77,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mutual Advisors LLC grew its holdings in Fiserv by 129.2% during the third quarter. Mutual Advisors LLC now owns 15,669 shares of the business services provider’s stock worth $1,942,000 after acquiring an additional 8,834 shares during the period. Mitchell Sinkler & Starr PA lifted its holdings in Fiserv by 27.7% in the third quarter. Mitchell Sinkler & Starr PA now owns 2,297 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 498 shares during the period. UMB Bank n.a. boosted its position in Fiserv by 9.4% in the 3rd quarter. UMB Bank n.a. now owns 10,418 shares of the business services provider’s stock worth $1,343,000 after purchasing an additional 895 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Fiserv by 20.8% during the 3rd quarter. Transcend Capital Advisors LLC now owns 8,255 shares of the business services provider’s stock worth $1,064,000 after purchasing an additional 1,419 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Fiserv by 54.2% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 5,763 shares of the business services provider’s stock valued at $744,000 after purchasing an additional 2,025 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $122.00 price target on shares of Fiserv in a report on Thursday, October 16th. Tigress Financial set a $95.00 target price on shares of Fiserv and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Royal Bank Of Canada set a $85.00 target price on Fiserv and gave the company an “outperform” rating in a research report on Thursday, October 30th. Stephens set a $75.00 price target on Fiserv in a report on Friday, January 16th. Finally, TD Cowen reiterated a “hold” rating on shares of Fiserv in a research report on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.34.

Insiders Place Their Bets

In other Fiserv news, insider Adam L. Rosman bought 7,900 shares of the stock in a transaction on Tuesday, December 2nd. The shares were bought at an average price of $63.19 per share, with a total value of $499,201.00. Following the purchase, the insider directly owned 61,285 shares in the company, valued at $3,872,599.15. This trade represents a 14.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul M. Todd bought 17,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were acquired at an average cost of $62.41 per share, with a total value of $1,060,970.00. Following the acquisition, the chief financial officer directly owned 24,453 shares of the company’s stock, valued at approximately $1,526,111.73. This represents a 228.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

NASDAQ FISV opened at $58.12 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $66.33 and its 200-day simple moving average is $99.87. The company has a market cap of $31.59 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 3.60 and a beta of 0.78. Fiserv, Inc. has a 1-year low of $57.79 and a 1-year high of $238.59.

About Fiserv

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.