Cigna Investments Inc. New Trims Holdings in Mastercard Incorporated (NYSE:MA)

Cigna Investments Inc. New cut its holdings in Mastercard Incorporated (NYSE:MA) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,393 shares of the credit services provider’s stock after selling 124 shares during the quarter. Mastercard makes up about 0.8% of Cigna Investments Inc. New’s holdings, making the stock its 18th biggest holding. Cigna Investments Inc. New’s holdings in Mastercard were worth $4,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Highline Wealth Partners LLC purchased a new stake in Mastercard in the 3rd quarter worth approximately $25,000. First Personal Financial Services bought a new stake in Mastercard in the third quarter worth $39,000. FSA Wealth Management LLC bought a new stake in Mastercard in the third quarter worth $54,000. Raelipskie Partnership boosted its stake in Mastercard by 120.0% during the third quarter. Raelipskie Partnership now owns 110 shares of the credit services provider’s stock worth $54,000 after buying an additional 60 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in Mastercard during the third quarter worth $55,000. 97.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MA has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Mizuho boosted their target price on shares of Mastercard from $496.00 to $532.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Oppenheimer cut their price objective on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Piper Sandler reiterated an “overweight” rating and issued a $635.00 target price (up previously from $591.00) on shares of Mastercard in a research report on Friday, January 31st. Finally, BMO Capital Markets upped their target price on Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $603.08.

Mastercard Stock Performance

Shares of Mastercard stock opened at $565.51 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.03 and a debt-to-equity ratio of 2.68. The company’s fifty day moving average is $531.61 and its 200 day moving average is $506.04. The stock has a market cap of $519.05 billion, a price-to-earnings ratio of 40.71, a P/E/G ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $576.94.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. Sell-side analysts forecast that Mastercard Incorporated will post 15.98 EPS for the current year.

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.54%. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Mastercard announced that its Board of Directors has approved a stock buyback program on Tuesday, December 17th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the credit services provider to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Mastercard

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.