Delta Financial Group Inc. Purchases 745 Shares of Visa Inc. (NYSE:V)

Delta Financial Group Inc. grew its position in Visa Inc. (NYSE:V) by 13.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,414 shares of the credit-card processor’s stock after purchasing an additional 745 shares during the quarter. Visa makes up approximately 1.8% of Delta Financial Group Inc.’s portfolio, making the stock its 18th largest holding. Delta Financial Group Inc.’s holdings in Visa were worth $1,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Keudell Morrison Wealth Management lifted its position in Visa by 0.4% during the 1st quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock worth $2,652,000 after buying an additional 43 shares in the last quarter. Successful Portfolios LLC lifted its position in Visa by 3.6% during the 1st quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock worth $278,000 after buying an additional 43 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in Visa by 1.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock worth $657,000 after buying an additional 45 shares in the last quarter. Seascape Capital Management lifted its position in Visa by 0.3% during the 1st quarter. Seascape Capital Management now owns 16,038 shares of the credit-card processor’s stock worth $3,616,000 after buying an additional 48 shares in the last quarter. Finally, Pure Financial Advisors LLC lifted its position in Visa by 1.4% during the 1st quarter. Pure Financial Advisors LLC now owns 3,581 shares of the credit-card processor’s stock worth $807,000 after buying an additional 49 shares in the last quarter. Institutional investors own 81.35% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 2,300 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,706,880. The disclosure for this sale can be found here. Insiders sold 81,550 shares of company stock valued at $19,795,806 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $241.07 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market capitalization of $448.83 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The company’s 50 day moving average price is $241.67 and its two-hundred day moving average price is $232.27. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $250.06.

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

Visa Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on V. Raymond James boosted their price objective on Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. JPMorgan Chase & Co. upped their target price on shares of Visa from $265.00 to $296.00 and gave the company an “overweight” rating in a research report on Tuesday, August 22nd. Royal Bank of Canada upped their target price on shares of Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Robert W. Baird restated an “outperform” rating and set a $284.00 target price on shares of Visa in a research report on Thursday. Finally, Credit Suisse Group upped their target price on shares of Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.77.

About Visa

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.