Power Corp of Canada Purchases New Holdings in Visa Inc. (NYSE:V)

Power Corp of Canada purchased a new stake in Visa Inc. (NYSE:V – Get Rating) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 2,069 shares of the credit-card processor’s stock, valued at approximately $368,000.

Other institutional investors have also made changes to their positions in the company. Bishop Rock Capital L.P. lifted its stake in Visa by 20,610.1% during the second quarter. Bishop Rock Capital L.P. now owns 5,031,721 shares of the credit-card processor’s stock worth $25,556,000 after purchasing an additional 5,007,425 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Visa by 290.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,428,383 shares of the credit-card processor’s stock worth $786,702,000 after purchasing an additional 3,295,642 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Visa by 7.0% during the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after purchasing an additional 1,785,695 shares during the last quarter. Voya Investment Management LLC lifted its stake in Visa by 222.7% during the second quarter. Voya Investment Management LLC now owns 2,499,636 shares of the credit-card processor’s stock worth $492,154,000 after purchasing an additional 1,724,984 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in Visa during the third quarter worth $291,294,000. 81.87% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other news, President Ryan Mcinerney sold 58,197 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $53,367,191.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. Insiders have sold 191,312 shares of company stock valued at $33,751,165 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Barclays upped their price target on shares of Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Sunday, January 29th. Robert W. Baird upped their price target on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, January 19th. JPMorgan Chase & Co. upped their price target on shares of Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Finally, Redburn Partners assumed coverage on shares of Visa in a report on Tuesday, November 29th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $259.11.

Visa Stock Performance

Shares of Visa stock opened at $216.37 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $223.50 and a two-hundred day moving average price of $208.11. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. The company has a market cap of $406.99 billion, a P/E ratio of 30.26, a PEG ratio of 1.69 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. As a group, analysts anticipate that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 9th. This is a boost from Visa’s previous quarterly dividend of $0.40. Visa’s dividend payout ratio is 25.17%.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).