Visa Inc. $V Shares Acquired by Legal & General Group Plc

Legal & General Group Plc raised its holdings in Visa Inc. (NYSE:V) by 1.6% during the second quarter, Holdings Channel.com reports. The firm owned 12,059,068 shares of the credit-card processor’s stock after purchasing an additional 191,095 shares during the period. Visa makes up 1.1% of Legal & General Group Plc’s holdings, making the stock its 11th biggest holding. Legal & General Group Plc’s holdings in Visa were worth $4,281,572,000 as of its most recent SEC filing.

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

Visa Stock Down 0.1%

NYSE V opened at $323.81 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $589.90 billion, a P/E ratio of 31.72, a PEG ratio of 1.92 and a beta of 0.87. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company’s 50 day simple moving average is $340.68 and its 200 day simple moving average is $348.06.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is presently 26.25%.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction 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 in the company, valued at $183,117. This represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,870 shares of company stock valued at $7,467,233 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on V. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.