PineBridge Investments L.P. Takes Position in First Data Corp. (FDC)
PineBridge Investments L.P. acquired a new position in First Data Corp. (NYSE:FDC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,276 shares of the company’s stock, valued at approximately $313,000.
Other institutional investors have also modified their holdings of the company. Omega Advisors Inc. boosted its position in shares of First Data Corp. by 0.7% in the first quarter. Omega Advisors Inc. now owns 15,531,463 shares of the company’s stock worth $199,980,000 after buying an additional 114,800 shares during the last quarter. State Street Corp boosted its position in shares of First Data Corp. by 188.3% in the first quarter. State Street Corp now owns 4,840,422 shares of the company’s stock worth $62,637,000 after buying an additional 3,161,359 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of First Data Corp. by 110.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 210,465 shares of the company’s stock worth $2,330,000 after buying an additional 110,293 shares during the last quarter. Commerce Bank acquired a new position in shares of First Data Corp. during the second quarter worth approximately $14,481,000. Finally, Magnetar Financial LLC purchased a new stake in First Data Corp. during the first quarter valued at about $2,831,000. 33.66% of the stock is owned by institutional investors and hedge funds.
First Data Corp. (NYSE:FDC) opened at 13.30 on Thursday. The firm’s 50-day moving average is $13.50 and its 200-day moving average is $12.44. First Data Corp. has a 52-week low of $8.37 and a 52-week high of $17.99. The stock’s market cap is $12.10 billion.
First Data Corp. (NYSE:FDC) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm earned $1.98 billion during the quarter, compared to analysts’ expectations of $1.81 billion. First Data Corp.’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that First Data Corp. will post $1.32 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of First Data Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Wedbush assumed coverage on shares of First Data Corp. in a report on Thursday, September 8th. They issued a “neutral” rating and a $15.00 target price for the company. Deutsche Bank AG restated a “buy” rating on shares of First Data Corp. in a report on Wednesday, September 14th. Jefferies Group assumed coverage on shares of First Data Corp. in a report on Wednesday, August 31st. They issued a “buy” rating and a $16.50 target price for the company. Finally, Nomura restated a “hold” rating and issued a $14.00 target price on shares of First Data Corp. in a report on Friday, August 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have assigned a buy rating to the stock. First Data Corp. has a consensus rating of “Buy” and an average target price of $16.76.
About First Data Corp.
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