Everence Capital Management Inc. Sells 890 Shares of Visa Inc. (NYSE:V)

Everence Capital Management Inc. cut its position in shares of Visa Inc. (NYSE:V) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,883 shares of the credit-card processor’s stock after selling 890 shares during the quarter. Visa comprises 0.7% of Everence Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Everence Capital Management Inc.’s holdings in Visa were worth $11,791,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. 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 grew its position in Visa by 787.1% during the 1st 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 purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new stake in Visa during the 1st quarter valued at about $511,321,000. GQG Partners LLC increased its stake in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. increased its stake in Visa by 26,951.9% during 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 in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of Visa stock opened at $286.85 on Tuesday. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The stock’s fifty day moving average is $277.45 and its 200 day moving average is $272.97. The stock has a market cap of $524.63 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.00 and a beta of 0.96. 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 announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. BMO Capital Markets raised their price target on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada decreased their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.19.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

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.