Kinsale Capital Group Inc. Increases Holdings in Visa Inc. (NYSE:V)

Kinsale Capital Group Inc. raised its position in Visa Inc. (NYSE:V) by 13.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 34,117 shares of the credit-card processor’s stock after buying an additional 4,032 shares during the period. Visa comprises approximately 2.9% of Kinsale Capital Group Inc.’s holdings, making the stock its 6th largest holding. Kinsale Capital Group Inc.’s holdings in Visa were worth $11,957,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of V. New Republic Capital LLC boosted its position in shares of Visa by 2.0% in the 1st quarter. New Republic Capital LLC now owns 3,168 shares of the credit-card processor’s stock worth $1,110,000 after purchasing an additional 62 shares during the last quarter. Stonekeep Investments LLC bought a new position in shares of Visa in the 1st quarter worth $213,000. Foundations Investment Advisors LLC boosted its position in shares of Visa by 4.0% in the 1st quarter. Foundations Investment Advisors LLC now owns 60,020 shares of the credit-card processor’s stock worth $21,035,000 after purchasing an additional 2,302 shares during the last quarter. KFA Private Wealth Group LLC boosted its position in shares of Visa by 14.3% in the 1st quarter. KFA Private Wealth Group LLC now owns 1,389 shares of the credit-card processor’s stock worth $487,000 after purchasing an additional 174 shares during the last quarter. Finally, AGP Franklin LLC boosted its position in shares of Visa by 0.7% in the 1st quarter. AGP Franklin LLC now owns 8,467 shares of the credit-card processor’s stock worth $2,843,000 after purchasing an additional 61 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on V. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. Barclays restated an “overweight” rating on shares of Visa in a report on Friday, June 13th. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $375.52.

Visa Stock Performance

V opened at $356.93 on Monday. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The stock has a market cap of $658.60 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.41 and a beta of 0.92. The business has a 50 day moving average of $356.30 and a 200-day moving average of $345.45. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $2.51 earnings per share. On average, equities research analysts expect 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, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa’s payout ratio is currently 23.72%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,108 shares of company stock valued at $36,771,200. Insiders own 0.13% of the company’s stock.

Visa 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.