Impax Asset Management Group plc Decreases Stock Position in Visa Inc. (NYSE:V)

Impax Asset Management Group plc decreased its holdings in Visa Inc. (NYSE:V) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,123,428 shares of the credit-card processor’s stock after selling 31,422 shares during the period. Visa comprises approximately 1.2% of Impax Asset Management Group plc’s holdings, making the stock its 26th largest holding. Impax Asset Management Group plc’s holdings in Visa were worth $308,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after buying an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares in the last quarter. National Bank of Canada FI boosted its holdings in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in Visa in the first quarter worth about $511,321,000. Finally, GQG Partners LLC boosted its holdings in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several research analyst reports. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Mizuho raised their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Visa Trading Up 0.4 %

Shares of V opened at $291.85 on Tuesday. The stock’s 50-day moving average is $281.47 and its two-hundred day moving average is $273.80. The stock has a market cap of $531.84 billion, a PE ratio of 29.99, a P/E/G ratio of 1.95 and a beta of 0.95. Visa Inc. has a 12 month low of $240.97 and a 12 month high of $296.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Equities analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Visa’s payout ratio is 21.38%.

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.