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Boutique investment firm Broyhill Asset Management has released its fourth quarter 2023 investor letter. You can download a copy of the same here. The past two years have been a mirror image for stock investors. Global stocks fell 18% last year, but rose 22% in 2022. Portfolio activity was very strong in the fourth quarter. Broyhill’s fully invested managed funds have underperformed broad equity benchmarks year-over-year, but have avoided problems during the 2021 and 2022 declines, and their relative performance remains better than any long-term period. much higher. Additionally, you can check out the fund’s top five holdings to learn about the best stocks for 2023.
Broyhill Asset Management featured stocks such as Fiserv Inc. (NYSE:FI) in its Q4 2023 Investor Letter. Fiserv, Inc. (NYSE:FI), headquartered in Brookfield, Wisconsin, provides payments and financial services technology. On February 16, 2024, Fiserv, Inc. (NYSE:FI) stock closed at $148.04 per share. Fiserv, Inc. (NYSE:FI)’s 1-month return is his 6.49% and the company’s stock has increased his 28.32% in value over the past 52 weeks. Fiserv, Inc. (NYSE:FI) has a market capitalization of $88,852 million.
Broyhill Asset Management said the following about Fiserv, Inc. (NYSE:FI) in its Q4 2023 Investor Letter:
“Stocks of” Fiserve Co., Ltd. (NYSE:FI) rose 18% during the quarter. First, we provided an overview of investing in Fiserv here. Since then, the company has continued to fire on all cylinders. After reporting a strong third quarter and raising its outlook, the company restated its outlook for the year at its investor day in November, introducing a preliminary outlook for 2024 of 11% to 13% organic top-line growth. After that, stock prices accelerated. Management also seemed very confident in its new medium-term guidance, which calls for organic revenue growth of 9% to 12% and earnings per share growth of 13% to 17%. Despite the company’s near-perfect execution, the stock ended the year trading at 15 times earnings, more than 20% above market earnings. ”
A close-up of swiping a credit card into a payment terminal, reflecting the company’s payment technology.
Fiserv, Inc. (NYSE:FI) isn’t on the list of 30 most popular stocks among hedge funds. According to our database, at the end of the fourth quarter, Fiserv Inc. (NYSE: FI)’s hedge fund portfolio was held in 73 companies, up from his 70 companies last quarter.
We talked about Fiserv, Inc. (NYSE:FI) in a separate article and shared a list of the best fintech stocks to buy in 2024. Additionally, for more information on investor letters from hedge funds and other institutions, please visit our Hedge Fund Investor Letters Q4 2023 page. powerful investors.
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Disclosure: None. This article was originally published on Insider Monkey.
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