Allstate Corp Buys 23,737 Shares of Mastercard Incorporated (NYSE:MA)

Allstate Corp grew its stake in shares of Mastercard Incorporated (NYSE:MA) by 3,338.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,448 shares of the credit services provider’s stock after buying an additional 23,737 shares during the period. Mastercard makes up 0.4% of Allstate Corp’s portfolio, making the stock its 29th biggest position. Allstate Corp’s holdings in Mastercard were worth $12,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MA. Vanguard Group Inc. raised its stake in Mastercard by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,179,138 shares of the credit services provider’s stock worth $40,640,219,000 after buying an additional 377,302 shares during the period. State Street Corp lifted its holdings in shares of Mastercard by 0.7% during the 3rd quarter. State Street Corp now owns 35,288,912 shares of the credit services provider’s stock valued at $17,425,665,000 after purchasing an additional 257,312 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Mastercard by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 18,375,053 shares of the credit services provider’s stock valued at $9,043,972,000 after purchasing an additional 453,773 shares during the period. Norges Bank bought a new stake in Mastercard during the 4th quarter worth approximately $6,022,224,000. Finally, Franklin Resources Inc. raised its holdings in Mastercard by 4.2% during the 3rd quarter. Franklin Resources Inc. now owns 7,501,814 shares of the credit services provider’s stock worth $3,800,836,000 after buying an additional 304,293 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the sale, the chief executive officer now owns 84,871 shares of the company’s stock, valued at $46,692,629.36. This represents a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edward Grunde Mclaughlin sold 7,132 shares of Mastercard stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the completion of the transaction, the insider now directly owns 34,524 shares of the company’s stock, valued at $18,459,292.32. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Mastercard Stock Performance

NYSE MA opened at $540.57 on Friday. The stock has a market cap of $492.84 billion, a PE ratio of 38.92, a P/E/G ratio of 2.37 and a beta of 1.10. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50-day moving average of $550.58 and a 200-day moving average of $526.65. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $582.23.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a net margin of 45.71% and a return on equity of 188.47%. On average, sell-side analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard declared that its board has approved a share buyback plan on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Mastercard Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, April 9th. Mastercard’s dividend payout ratio is 21.89%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MA. William Blair reissued an “outperform” rating on shares of Mastercard in a research report on Friday, January 31st. Barclays lifted their price target on Mastercard from $595.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on Mastercard from $572.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Seaport Res Ptn lowered Mastercard from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.11.

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.