Visa Inc. $V Holdings Lowered by Renaissance Group LLC

Renaissance Group LLC cut its stake in Visa Inc. (NYSE:V) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,848 shares of the credit-card processor’s stock after selling 4,181 shares during the period. Visa makes up approximately 1.4% of Renaissance Group LLC’s investment portfolio, making the stock its 16th biggest position. Renaissance Group LLC’s holdings in Visa were worth $36,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in V. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares during the period. Geode Capital Management LLC grew its holdings in Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares during the period. Northern Trust Corp raised its position in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.5%

Shares of Visa stock opened at $320.78 on Wednesday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a market cap of $584.37 billion, a P/E ratio of 31.42, a P/E/G ratio of 1.97 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $341.36 and a 200 day moving average price of $348.40.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,870 shares of company stock valued at $7,467,233. 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.