New Century Financial Group LLC Lowers Holdings in Mastercard Incorporated (NYSE:MA)

New Century Financial Group LLC lowered its position in shares of Mastercard Incorporated (NYSE:MA) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,136 shares of the credit services provider’s stock after selling 80 shares during the period. New Century Financial Group LLC’s holdings in Mastercard were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Mastercard by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 75,253,734 shares of the credit services provider’s stock valued at $32,096,470,000 after purchasing an additional 742,076 shares in the last quarter. Capital International Investors increased its holdings in shares of Mastercard by 3.3% in the 4th quarter. Capital International Investors now owns 21,041,685 shares of the credit services provider’s stock valued at $8,974,478,000 after acquiring an additional 676,452 shares during the period. Capital Research Global Investors increased its holdings in shares of Mastercard by 4.7% in the 4th quarter. Capital Research Global Investors now owns 13,608,023 shares of the credit services provider’s stock valued at $5,803,956,000 after acquiring an additional 605,909 shares during the period. Norges Bank bought a new position in shares of Mastercard in the 4th quarter worth $4,595,559,000. Finally, Royal Bank of Canada lifted its stake in shares of Mastercard by 1.1% during the 3rd quarter. Royal Bank of Canada now owns 5,314,881 shares of the credit services provider’s stock worth $2,104,214,000 after purchasing an additional 56,642 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Foundation Mastercard sold 151,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $452.55, for a total value of $68,335,050.00. Following the completion of the transaction, the insider now directly owns 95,930,308 shares of the company’s stock, valued at approximately $43,413,260,885.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Raj Seshadri sold 5,216 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $446.71, for a total transaction of $2,330,039.36. Following the transaction, the insider now owns 15,183 shares of the company’s stock, valued at approximately $6,782,397.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Foundation Mastercard sold 151,000 shares of Mastercard stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $452.55, for a total transaction of $68,335,050.00. Following the transaction, the insider now directly owns 95,930,308 shares in the company, valued at $43,413,260,885.40. The disclosure for this sale can be found here. In the last three months, insiders sold 3,163,228 shares of company stock worth $1,428,540,870. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler began coverage on shares of Mastercard in a research report on Monday, May 13th. They set an “overweight” rating and a $531.00 price target for the company. JPMorgan Chase & Co. reduced their target price on Mastercard from $520.00 to $510.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Barclays decreased their price objective on shares of Mastercard from $549.00 to $530.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Wells Fargo & Company lifted their price objective on shares of Mastercard from $490.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley cut their target price on Mastercard from $536.00 to $524.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $496.91.

Mastercard Price Performance

Shares of Mastercard stock traded up $3.53 on Thursday, reaching $448.18. The company’s stock had a trading volume of 3,192,350 shares, compared to its average volume of 2,526,183. Mastercard Incorporated has a 52-week low of $359.77 and a 52-week high of $490.00. The company has a market capitalization of $416.63 billion, a P/E ratio of 35.63, a PEG ratio of 1.74 and a beta of 1.09. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. The stock has a 50-day moving average price of $450.47 and a 200-day moving average price of $453.59.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that Mastercard Incorporated will post 14.26 EPS for the current year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Tuesday, July 9th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.