Corebridge Financial Inc. Trims Stock Position in Fidelity National Information Services, Inc. (NYSE:FIS)

Corebridge Financial Inc. lowered its position in shares of Fidelity National Information Services, Inc. (NYSE:FIS) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,473 shares of the information technology services provider’s stock after selling 16,794 shares during the period. Corebridge Financial Inc.’s holdings in Fidelity National Information Services were worth $10,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bradley Foster & Sargent Inc. CT increased its position in Fidelity National Information Services by 4.7% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,869 shares of the information technology services provider’s stock worth $232,000 after buying an additional 128 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Fidelity National Information Services by 2.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,938 shares of the information technology services provider’s stock worth $480,000 after acquiring an additional 129 shares during the last quarter. Old Port Advisors raised its position in Fidelity National Information Services by 4.9% in the 4th quarter. Old Port Advisors now owns 2,867 shares of the information technology services provider’s stock valued at $232,000 after purchasing an additional 135 shares during the last quarter. Modera Wealth Management LLC boosted its stake in Fidelity National Information Services by 4.8% during the 4th quarter. Modera Wealth Management LLC now owns 2,990 shares of the information technology services provider’s stock worth $242,000 after purchasing an additional 137 shares during the period. Finally, Center for Financial Planning Inc. increased its stake in Fidelity National Information Services by 3.8% in the fourth quarter. Center for Financial Planning Inc. now owns 3,755 shares of the information technology services provider’s stock valued at $303,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 96.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James lowered Fidelity National Information Services from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $115.00 to $101.00 in a report on Monday, January 6th. Royal Bank of Canada cut their price target on Fidelity National Information Services from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Susquehanna downgraded Fidelity National Information Services from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $103.00 to $81.00 in a report on Wednesday, February 12th. Keefe, Bruyette & Woods cut their price objective on shares of Fidelity National Information Services from $102.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Fidelity National Information Services in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $88.65.

Insider Buying and Selling at Fidelity National Information Services

In other Fidelity National Information Services news, Director Jeffrey A. Goldstein purchased 701 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was bought at an average cost of $79.97 per share, for a total transaction of $56,058.97. Following the acquisition, the director now owns 11,098 shares of the company’s stock, valued at approximately $887,507.06. The trade was a 6.74 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Fidelity National Information Services Stock Performance

Shares of FIS opened at $74.54 on Thursday. Fidelity National Information Services, Inc. has a 12-month low of $66.51 and a 12-month high of $91.98. The stock has a market cap of $39.48 billion, a P/E ratio of 28.56, a PEG ratio of 1.23 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $74.51 and a two-hundred day moving average of $81.23.

Fidelity National Information Services (NYSE:FIS) last posted its earnings results on Tuesday, February 11th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Fidelity National Information Services had a return on equity of 17.30% and a net margin of 14.54%. During the same period last year, the company posted $0.94 EPS. As a group, research analysts predict that Fidelity National Information Services, Inc. will post 5.74 EPS for the current fiscal year.

Fidelity National Information Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.40 dividend. This is an increase from Fidelity National Information Services’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.60 annualized dividend and a yield of 2.15%. Fidelity National Information Services’s payout ratio is presently 61.30%.

Fidelity National Information Services Profile

Fidelity National Information Services, Inc engages in the provision of financial services technology solutions for financial institutions, businesses, and developers worldwide. It operates through Banking Solutions, Capital Market Solutions, and Corporate and Other segments. The company provides core processing and ancillary applications; mobile and online banking; fraud, risk management, and compliance; card and retail payment; electronic funds transfer and network; wealth and retirement; and item processing and output solutions.