Pendal Group Ltd Increases Position in Visa Inc. (NYSE:V)

Pendal Group Ltd raised its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 14.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 31,733 shares of the credit-card processor’s stock after purchasing an additional 3,994 shares during the quarter. Pendal Group Ltd’s holdings in Visa were worth $5,637,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Aurora Private Wealth Inc. raised its stake in shares of Visa by 7,648.7% during the second quarter. Aurora Private Wealth Inc. now owns 79,502 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 78,476 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE bought a new stake in shares of Visa during the second quarter valued at approximately $35,000. Apeiron RIA LLC raised its stake in shares of Visa by 7.1% during the second quarter. Apeiron RIA LLC now owns 1,589 shares of the credit-card processor’s stock valued at $40,000 after acquiring an additional 105 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of Visa during the second quarter valued at approximately $44,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in shares of Visa during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $50,291,707.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Visa news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $180.00, for a total value of $1,080,000.00. Following the completion of the transaction, the chief executive officer now owns 153,887 shares in the company, valued at $27,699,660. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $50,291,707.04. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Visa Price Performance

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Shares of V opened at $205.83 on Monday. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $235.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $387.68 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The company’s fifty day moving average price is $205.17 and its 200-day moving average price is $201.80.

Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 EPS for the quarter, beating the consensus estimate of $1.86 by $0.07. Visa had a net margin of 51.03% and a return on equity of 48.56%. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.55 billion. On average, equities research analysts predict that Visa Inc. will post 8.28 EPS for the current year.

Visa declared that its board has authorized a stock repurchase program on Tuesday, October 25th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Visa Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, December 15th. Visa’s payout ratio is 25.75%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on V shares. UBS Group decreased their price target on shares of Visa from $290.00 to $287.00 and set a “buy” rating for the company in a research note on Thursday, December 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Visa from $275.00 to $246.00 in a research note on Monday, October 10th. Raymond James reduced their price objective on shares of Visa from $262.00 to $261.00 and set an “outperform” rating for the company in a research note on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Visa from $270.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, October 13th. Finally, BMO Capital Markets reduced their price objective on shares of Visa from $257.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.69.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.