Kinsale Capital Group Inc. Boosts Position in Visa Inc. $V

Kinsale Capital Group Inc. grew its stake in shares of Visa Inc. (NYSE:V) by 7.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 40,201 shares of the credit-card processor’s stock after purchasing an additional 2,769 shares during the quarter. Visa makes up about 2.5% of Kinsale Capital Group Inc.’s holdings, making the stock its 8th largest position. Kinsale Capital Group Inc.’s holdings in Visa were worth $13,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of V. Sonoma Allocations LLC bought a new position in shares of Visa during the third quarter valued at approximately $710,000. AQR Capital Management LLC boosted its position in Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after purchasing an additional 21,401 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its position in Visa by 5.9% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after purchasing an additional 5,295 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Visa by 2.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after buying an additional 14,581 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Visa by 24.1% in the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after buying an additional 159,906 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.8%

Shares of NYSE:V opened at $331.82 on Friday. The company has a 50 day moving average of $338.50 and a 200-day moving average of $340.87. The firm has a market cap of $604.49 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.90 and a beta of 0.79. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.51.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business earned $2.75 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is currently 25.14%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Morgan Stanley reissued an “overweight” rating and set a $411.00 target price (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target on the stock in a research note on Thursday, December 11th. Rothschild & Co Redburn set a $385.00 price target on Visa in a report on Wednesday, January 28th. Finally, UBS Group reissued a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $392.29.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.