Principal Financial Group Inc. Reduces Stock Position in Fiserv, Inc. $FISV

Principal Financial Group Inc. lessened its stake in Fiserv, Inc. (NASDAQ:FISV) by 13.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 604,832 shares of the business services provider’s stock after selling 94,870 shares during the quarter. Principal Financial Group Inc.’s holdings in Fiserv were worth $77,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Fiserv by 2.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,811 shares of the business services provider’s stock worth $485,000 after acquiring an additional 77 shares during the period. Quadcap Wealth Management LLC increased its position in Fiserv by 2.1% during the second quarter. Quadcap Wealth Management LLC now owns 3,900 shares of the business services provider’s stock worth $672,000 after purchasing an additional 79 shares during the last quarter. Strategic Blueprint LLC raised its stake in Fiserv by 4.4% during the second quarter. Strategic Blueprint LLC now owns 1,977 shares of the business services provider’s stock worth $341,000 after purchasing an additional 83 shares during the period. Glenview Trust co boosted its holdings in Fiserv by 0.3% in the 2nd quarter. Glenview Trust co now owns 32,864 shares of the business services provider’s stock valued at $5,666,000 after purchasing an additional 85 shares during the last quarter. Finally, Smithfield Trust Co grew its stake in shares of Fiserv by 0.9% in the 2nd quarter. Smithfield Trust Co now owns 9,773 shares of the business services provider’s stock valued at $1,685,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $58.12 on Wednesday. The stock has a market capitalization of $31.59 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 3.60 and a beta of 0.78. 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 business has a 50-day moving average of $66.33 and a 200 day moving average of $99.87. Fiserv, Inc. has a 12 month low of $57.79 and a 12 month high of $238.59.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman acquired 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was purchased at an average price of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the acquisition, the insider owned 61,285 shares of the company’s stock, valued at approximately $3,872,599.15. This trade represents a 14.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul M. Todd bought 17,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average cost of $62.41 per share, for a total transaction of $1,060,970.00. Following the completion of the purchase, the chief financial officer owned 24,453 shares in the company, valued at $1,526,111.73. This trade 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.

Analyst Ratings Changes

FISV has been the topic of several analyst reports. Royal Bank Of Canada set a $85.00 price target on shares of Fiserv and gave the company an “outperform” rating in a research report on Thursday, October 30th. BTIG Research downgraded Fiserv from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Fiserv in a research note on Thursday, December 4th. Jefferies Financial Group raised their price objective on Fiserv from $60.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. Finally, William Blair cut shares of Fiserv from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.34.

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.