Sumitomo Life Insurance Co. Grows Position in Mastercard Incorporated (NYSE:MA)

Sumitomo Life Insurance Co. lifted its position in Mastercard Incorporated (NYSE:MA) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,927 shares of the credit services provider’s stock after acquiring an additional 259 shares during the quarter. Mastercard makes up approximately 0.3% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 22nd largest position. Sumitomo Life Insurance Co.’s holdings in Mastercard were worth $13,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MA. Westend Capital Management LLC bought a new position in shares of Mastercard during the 1st quarter valued at approximately $27,000. Palisade Asset Management LLC purchased a new position in Mastercard in the first quarter valued at approximately $27,000. Scarborough Advisors LLC bought a new position in Mastercard during the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Mastercard in the second quarter worth $34,000. Finally, Fairway Wealth LLC bought a new stake in shares of Mastercard in the second quarter valued at $35,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

NYSE MA traded up $0.89 during trading hours on Wednesday, reaching $508.12. 511,097 shares of the stock traded hands, compared to its average volume of 2,430,345. The stock has a 50 day simple moving average of $483.26 and a two-hundred day simple moving average of $463.24. The company has a market cap of $472.36 billion, a price-to-earnings ratio of 40.32, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. Mastercard Incorporated has a 1 year low of $359.77 and a 1 year high of $509.88. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.85 billion. On average, analysts predict that Mastercard Incorporated will post 14.3 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio (DPR) is presently 20.99%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MA. BMO Capital Markets reiterated an “outperform” rating and set a $520.00 target price on shares of Mastercard in a research report on Wednesday, August 14th. BNP Paribas downgraded shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 price objective for the company. in a report on Tuesday, September 3rd. Royal Bank of Canada boosted their target price on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Compass Point assumed coverage on Mastercard in a report on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price target for the company. Finally, Susquehanna boosted their price objective on Mastercard from $535.00 to $540.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $524.64.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now directly owns 27,304 shares in the company, valued at $12,423,320. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Foundation Mastercard sold 109,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $467.45, for a total value of $50,952,050.00. Following the sale, the insider now directly owns 91,924,308 shares of the company’s stock, valued at $42,970,017,774.60. This trade represents a 0.00 % 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, CFO J. Mehra Sachin sold 13,439 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the transaction, the chief financial officer now directly owns 27,304 shares of the company’s stock, valued at $12,423,320. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 340,809 shares of company stock worth $159,610,703. Insiders own 0.10% of the company’s stock.

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.