Connor Clark & Lunn Investment Management Ltd. Purchases 2,330 Shares of Mastercard Incorporated (NYSE:MA)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Mastercard Incorporated (NYSE:MA) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,549 shares of the credit services provider’s stock after acquiring an additional 2,330 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Mastercard were worth $6,081,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Addison Advisors LLC raised its holdings in shares of Mastercard by 3.8% during the 4th quarter. Addison Advisors LLC now owns 493 shares of the credit services provider’s stock valued at $260,000 after purchasing an additional 18 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of Mastercard by 0.6% in the fourth quarter. Capital Investment Advisory Services LLC now owns 3,135 shares of the credit services provider’s stock worth $1,651,000 after buying an additional 19 shares during the last quarter. Capital Investment Services of America Inc. boosted its stake in shares of Mastercard by 4.2% during the 4th quarter. Capital Investment Services of America Inc. now owns 475 shares of the credit services provider’s stock worth $250,000 after acquiring an additional 19 shares in the last quarter. Augustine Asset Management Inc. increased its holdings in shares of Mastercard by 1.1% during the 4th quarter. Augustine Asset Management Inc. now owns 1,797 shares of the credit services provider’s stock valued at $946,000 after acquiring an additional 19 shares during the last quarter. Finally, Richard W. Paul & Associates LLC raised its stake in shares of Mastercard by 0.9% in the 4th quarter. Richard W. Paul & Associates LLC now owns 2,245 shares of the credit services provider’s stock valued at $1,182,000 after acquiring an additional 19 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on MA. Citigroup increased their price target on Mastercard from $584.00 to $650.00 and gave the company a “buy” rating in a report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Mastercard in a report on Friday, January 31st. Morgan Stanley decreased their price target on shares of Mastercard from $654.00 to $644.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $640.00 price objective (up previously from $614.00) on shares of Mastercard in a research note on Friday, January 31st. Finally, Susquehanna boosted their price target on Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a research note on Friday, January 31st. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $606.11.

Mastercard Stock Up 1.5 %

NYSE MA opened at $527.87 on Friday. The stock has a fifty day moving average of $545.38 and a 200-day moving average of $522.78. The stock has a market capitalization of $481.27 billion, a P/E ratio of 38.00, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, topping 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%. On average, equities research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Wednesday, April 9th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s payout ratio is presently 21.89%.

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