New Century Financial Group LLC Purchases 1,054 Shares of Visa Inc. (NYSE:V)

New Century Financial Group LLC lifted its position in Visa Inc. (NYSE:V) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,627 shares of the credit-card processor’s stock after buying an additional 1,054 shares during the period. New Century Financial Group LLC’s holdings in Visa were worth $1,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake 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 valued at $1,296,820,000 after buying an additional 4,099,122 shares in the last quarter. Swedbank AB bought a new stake in Visa in the 1st quarter valued at $511,321,000. GQG Partners LLC boosted its stake in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the period. Wulff Hansen & CO. raised its stake in shares of Visa by 26,951.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 0.1 %

Shares of NYSE V opened at $274.77 on Tuesday. The stock has a market capitalization of $502.54 billion, a P/E ratio of 30.70, a PEG ratio of 1.94 and a beta of 0.96. The stock’s fifty day moving average is $271.45 and its 200 day moving average is $273.11. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 EPS. Sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on V shares. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $310.22.

Visa Company 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.