The Manufacturers Life Insurance Company Has $528.72 Million Stake in Visa Inc. (NYSE:V)

The Manufacturers Life Insurance Company reduced its holdings in Visa Inc. (NYSE:V) by 28.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,014,305 shares of the credit-card processor’s stock after selling 802,152 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Visa were worth $528,719,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Westend Capital Management LLC acquired a new position in Visa during the 1st quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa during the 4th quarter worth about $25,000. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on V shares. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Up 0.8 %

Shares of V opened at $271.69 on Friday. The business’s fifty day moving average price is $271.12 and its two-hundred day moving average price is $273.39. The firm has a market capitalization of $496.90 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.16 earnings per share. On average, analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Visa Company 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.