CANADA LIFE ASSURANCE Co Acquires 112,406 Shares of Visa Inc. (NYSE:V)

CANADA LIFE ASSURANCE Co raised its stake in Visa Inc. (NYSE:V) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,986,217 shares of the credit-card processor’s stock after purchasing an additional 112,406 shares during the period. Visa accounts for approximately 1.1% of CANADA LIFE ASSURANCE Co’s investment portfolio, making the stock its 10th biggest position. CANADA LIFE ASSURANCE Co owned approximately 0.11% of Visa worth $627,922,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of V. Hirtle Callaghan & Co LLC lifted its holdings in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares in the last quarter. Elevation Wealth Partners LLC grew its position in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC increased its stake in Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. grew its holdings in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. raised its stake in Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,205 shares of company stock worth $48,842,490. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of NYSE:V opened at $331.35 on Thursday. The firm’s fifty day moving average is $341.55 and its 200-day moving average is $319.71. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The firm has a market cap of $615.57 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Bank of America raised their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $355.84.

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.