American International Group Inc. Makes New $23.36 Million Investment in Fiserv, Inc. (NYSE:FI)

American International Group Inc. acquired a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 175,847 shares of the business services provider’s stock, valued at approximately $23,360,000.

Other institutional investors have also modified their holdings of the company. Hollencrest Capital Management lifted its position in shares of Fiserv by 75.8% during the 3rd quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after buying an additional 100 shares during the last quarter. West Oak Capital LLC purchased a new stake in Fiserv in the fourth quarter valued at $27,000. Halpern Financial Inc. acquired a new position in Fiserv in the fourth quarter valued at $27,000. GW&K Investment Management LLC purchased a new position in shares of Fiserv during the fourth quarter worth about $27,000. Finally, RE Dickinson Investment Advisors LLC acquired a new stake in shares of Fiserv during the fourth quarter worth about $27,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

FI traded up $0.68 during trading on Friday, reaching $148.94. 2,374,240 shares of the stock were exchanged, compared to its average volume of 2,055,062. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The company has a market capitalization of $87.14 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.20 and a beta of 0.93. The business’s 50 day moving average price is $151.09 and its two-hundred day moving average price is $145.71. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 1.06.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. As a group, equities research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FI. BMO Capital Markets raised their price target on Fiserv from $163.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. UBS Group lifted their target price on shares of Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Citigroup increased their price target on shares of Fiserv from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. KeyCorp raised their price objective on shares of Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, TD Cowen upped their target price on shares of Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.44.

Insider Activity at Fiserv

In other Fiserv news, EVP John Gibbons sold 2,800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Guy Chiarello sold 23,929 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at $24,847,871.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Gibbons sold 2,800 shares of Fiserv stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the sale, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,375 shares of company stock valued at $13,850,195. 0.75% of the stock is owned by corporate insiders.

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.