The Manufacturers Life Insurance Company Lowers Stock Holdings in Global Payments Inc. (NYSE:GPN)

The Manufacturers Life Insurance Company cut its holdings in shares of Global Payments Inc. (NYSE:GPN) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 156,678 shares of the business services provider’s stock after selling 4,961 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Global Payments worth $16,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in GPN. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Global Payments by 1.2% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after acquiring an additional 98 shares during the period. Deseret Mutual Benefit Administrators raised its stake in Global Payments by 27.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares during the period. Metis Global Partners LLC boosted its holdings in shares of Global Payments by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 116 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of Global Payments by 1.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 11,588 shares of the business services provider’s stock valued at $1,121,000 after buying an additional 137 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock worth $39,000 after buying an additional 143 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp lowered their price target on Global Payments from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. TD Cowen decreased their target price on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. StockNews.com lowered shares of Global Payments from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. BTIG Research downgraded shares of Global Payments from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Stock Down 0.4 %

Shares of Global Payments stock opened at $118.96 on Monday. The business has a 50-day moving average price of $106.57 and a 200 day moving average price of $103.76. Global Payments Inc. has a fifty-two week low of $91.60 and a fifty-two week high of $141.77. The firm has a market cap of $30.27 billion, a P/E ratio of 22.40, a P/E/G ratio of 0.91 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.