Zurich Insurance Group Ltd FI Sells 20,403 Shares of Visa Inc. (NYSE:V)

Zurich Insurance Group Ltd FI lessened its holdings in Visa Inc. (NYSE:V) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 427,383 shares of the credit-card processor’s stock after selling 20,403 shares during the period. Visa makes up approximately 1.1% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 17th biggest holding. Zurich Insurance Group Ltd FI’s holdings in Visa were worth $135,070,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Regent Peak Wealth Advisors LLC raised its stake in shares of Visa by 2.5% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,927 shares of the credit-card processor’s stock valued at $1,557,000 after acquiring an additional 121 shares in the last quarter. Capital & Planning LLC raised its stake in Visa by 21.2% in the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after buying an additional 166 shares in the last quarter. Spring Capital Management LLC raised its stake in Visa by 12.2% in the fourth quarter. Spring Capital Management LLC now owns 23,492 shares of the credit-card processor’s stock worth $7,424,000 after buying an additional 2,548 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in Visa by 2.8% in the fourth quarter. Integrated Investment Consultants LLC now owns 2,967 shares of the credit-card processor’s stock worth $938,000 after buying an additional 80 shares in the last quarter. Finally, Verity & Verity LLC raised its stake in Visa by 137.7% in the fourth quarter. Verity & Verity LLC now owns 4,761 shares of the credit-card processor’s stock worth $1,505,000 after buying an additional 2,758 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on V shares. Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Macquarie reduced their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Finally, UBS Group reduced their price target on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $362.38.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $194,931. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,948 shares of company stock valued at $41,548,282. 0.13% of the stock is owned by insiders.

Visa Price Performance

Shares of V opened at $367.76 on Tuesday. The firm has a market capitalization of $678.58 billion, a PE ratio of 37.07, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15. The company’s fifty day moving average price is $339.28 and its 200-day moving average price is $330.43.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company earned $2.51 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is 23.72%.

About Visa

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.