Principal Financial Group Inc. Sells 40,030 Shares of Fidelity National Information Services, Inc. $FIS

Principal Financial Group Inc. lowered its stake in Fidelity National Information Services, Inc. (NYSE:FIS) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,173,720 shares of the information technology services provider’s stock after selling 40,030 shares during the period. Principal Financial Group Inc.’s holdings in Fidelity National Information Services were worth $77,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Fidelity National Information Services in the fourth quarter worth about $347,000. Geneos Wealth Management Inc. lifted its holdings in Fidelity National Information Services by 70.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,046 shares of the information technology services provider’s stock worth $78,000 after buying an additional 431 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Fidelity National Information Services in the 2nd quarter worth approximately $302,000. Truist Financial Corp grew its position in shares of Fidelity National Information Services by 6.6% in the 2nd quarter. Truist Financial Corp now owns 74,869 shares of the information technology services provider’s stock worth $6,095,000 after buying an additional 4,619 shares during the last quarter. Finally, Ascent Group LLC raised its holdings in shares of Fidelity National Information Services by 106.1% during the second quarter. Ascent Group LLC now owns 6,765 shares of the information technology services provider’s stock valued at $551,000 after acquiring an additional 3,482 shares in the last quarter. Institutional investors own 96.23% of the company’s stock.

Fidelity National Information Services Trading Down 9.2%

Shares of NYSE:FIS opened at $50.90 on Wednesday. The stock’s 50-day simple moving average is $64.22 and its two-hundred day simple moving average is $67.10. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 188.51, a PEG ratio of 0.83 and a beta of 0.90. Fidelity National Information Services, Inc. has a 52-week low of $50.85 and a 52-week high of $83.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.53 and a current ratio of 0.53.

Fidelity National Information Services (NYSE:FIS) last released its earnings results on Wednesday, November 5th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.03. Fidelity National Information Services had a return on equity of 19.76% and a net margin of 1.45%.The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the business earned $1.40 earnings per share. Fidelity National Information Services’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts expect that Fidelity National Information Services, Inc. will post 5.74 EPS for the current year.

Fidelity National Information Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a dividend of $0.44 per share. This is a positive change from Fidelity National Information Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, March 10th. Fidelity National Information Services’s dividend payout ratio (DPR) is currently 592.59%.

Insiders Place Their Bets

In other news, Director Jeffrey A. Goldstein bought 941 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were bought at an average cost of $64.11 per share, for a total transaction of $60,327.51. Following the completion of the transaction, the director owned 14,529 shares of the company’s stock, valued at approximately $931,454.19. This represents a 6.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FIS shares. Compass Point reduced their price objective on shares of Fidelity National Information Services from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Citigroup raised shares of Fidelity National Information Services to a “hold” rating in a research note on Thursday, October 23rd. KeyCorp reissued a “hold” rating on shares of Fidelity National Information Services in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 price objective on shares of Fidelity National Information Services in a report on Thursday, January 15th. Finally, BNP Paribas Exane decreased their target price on Fidelity National Information Services from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Tuesday, January 20th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.53.

Fidelity National Information Services Profile

Fidelity National Information Services (NYSE: FIS) is a global provider of financial technology solutions and services for banks, capital markets firms, merchants and corporations. The company develops and delivers software, processing, and outsourcing services that support core banking, payments and merchant acquiring, wealth and retirement platforms, risk and compliance, and trading and capital markets operations. Its offerings include cloud-based and on-premises core banking systems, card processing and gateway services, e-commerce and point-of-sale payment solutions, and a range of back-office and advisory services designed to automate and modernize financial operations.

FIS serves a broad international client base across North America, Europe, Latin America, and the Asia-Pacific region through a combination of direct clients and partner channels.