Renaissance Investment Group LLC Trims Stake in Visa Inc. (NYSE:V)

Renaissance Investment Group LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,334 shares of the credit-card processor’s stock after selling 125 shares during the quarter. Visa comprises 2.5% of Renaissance Investment Group LLC’s portfolio, making the stock its 16th largest position. Renaissance Investment Group LLC’s holdings in Visa were worth $9,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of V. BCK Partners Inc. purchased a new stake in Visa in the first quarter worth about $2,717,000. Markel Corp grew its holdings in Visa by 0.3% in the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after purchasing an additional 3,065 shares during the period. AMI Investment Management Inc. purchased a new stake in Visa in the first quarter worth about $2,323,000. Ergoteles LLC purchased a new stake in Visa in the first quarter worth about $538,000. Finally, XTX Topco Ltd purchased a new stake in Visa in the first quarter worth about $1,496,000. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 24,025 shares of Visa stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Rajat Taneja sold 22,700 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,755,623.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,550 shares of company stock worth $19,795,806. 0.22% of the stock is currently owned by company insiders.

Visa Trading Down 0.2 %

V opened at $241.00 on Friday. The stock has a market cap of $448.70 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 1.81 and a beta of 0.95. The stock’s 50 day moving average price is $241.58 and its 200-day moving average price is $232.04. Visa Inc. has a one year low of $174.60 and a one year high of $250.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The company had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 8.65 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 22.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Visa from $265.00 to $296.00 and gave the company an “overweight” rating in a report on Tuesday, August 22nd. Wedbush reiterated an “outperform” rating and set a $270.00 price target on shares of Visa in a report on Thursday, August 31st. Robert W. Baird reiterated an “outperform” rating and set a $284.00 price target on shares of Visa in a report on Thursday. Mizuho reiterated a “neutral” rating and set a $255.00 price target on shares of Visa in a report on Tuesday, August 29th. Finally, StockNews.com assumed coverage on shares of Visa in a report on Thursday, August 17th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $273.77.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.