Manning & Napier Advisors LLC Has $107.22 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Manning & Napier Advisors LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 25.1% during the fourth quarter, Holdings Channel reports. The fund owned 521,957 shares of the business services provider’s stock after selling 175,212 shares during the period. Fiserv makes up approximately 1.2% of Manning & Napier Advisors LLC’s holdings, making the stock its 28th biggest holding. Manning & Napier Advisors LLC’s holdings in Fiserv were worth $107,220,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Allen Capital Group LLC bought a new position in shares of Fiserv in the 4th quarter valued at about $202,000. Sumitomo Life Insurance Co. raised its position in shares of Fiserv by 8.5% in the 4th quarter. Sumitomo Life Insurance Co. now owns 20,688 shares of the business services provider’s stock valued at $4,250,000 after acquiring an additional 1,626 shares during the period. R Squared Ltd acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $146,000. SteelPeak Wealth LLC acquired a new stake in shares of Fiserv in the 4th quarter valued at approximately $2,897,000. Finally, BSW Wealth Partners raised its position in shares of Fiserv by 10.5% in the 4th quarter. BSW Wealth Partners now owns 3,737 shares of the business services provider’s stock valued at $768,000 after acquiring an additional 354 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 38,771 shares in the company, valued at approximately $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

FI has been the topic of a number of analyst reports. KeyCorp increased their price target on shares of Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho raised their target price on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their target price on shares of Fiserv from $225.00 to $238.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stephens restated an “overweight” rating and set a $255.00 target price on shares of Fiserv in a report on Thursday, January 2nd. Finally, Susquehanna raised their target price on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Fiserv Price Performance

NYSE FI traded up $1.23 during trading on Wednesday, hitting $212.95. 191,651 shares of the company’s stock were exchanged, compared to its average volume of 2,290,930. 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 company has a market cap of $121.15 billion, a PE ratio of 41.03, a P/E/G ratio of 1.37 and a beta of 0.94. Fiserv, Inc. has a fifty-two week low of $137.13 and a fifty-two week high of $223.23. The stock’s 50 day moving average price is $208.96 and its two-hundred day moving average price is $190.20.

Fiserv Company Profile

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.