Impax Asset Management Group plc Cuts Holdings in Visa Inc. $V

Impax Asset Management Group plc reduced its holdings in Visa Inc. (NYSE:V) by 23.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 295,517 shares of the credit-card processor’s stock after selling 88,767 shares during the quarter. Impax Asset Management Group plc’s holdings in Visa were worth $104,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Keystone Global Partners LLC acquired a new position in shares of Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa during the second quarter worth about $28,000. Harbor Asset Planning Inc. acquired a new position in Visa during the second quarter worth about $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new position in Visa during the second quarter worth $36,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Barclays restated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Macquarie cut their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Price Performance

Visa stock opened at $339.00 on Thursday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50 day moving average price of $342.72 and a 200 day moving average price of $348.78. The company has a market cap of $621.32 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.05 and a beta of 0.87.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm posted $2.71 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 23.11%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.