Canada Post Corp Registered Pension Plan Invests $32.22 Million in Visa Inc. (NYSE:V)

Canada Post Corp Registered Pension Plan purchased a new stake in shares of Visa Inc. (NYSE:V) during the fourth quarter, Holdings Channel.com reports. The fund purchased 101,955 shares of the credit-card processor’s stock, valued at approximately $32,222,000. Visa accounts for approximately 1.9% of Canada Post Corp Registered Pension Plan’s portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC boosted its position in Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Norges Bank bought a new position in Visa in the 4th quarter valued at $5,171,271,000. Charles Schwab Investment Management Inc. increased its position in shares of Visa by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock valued at $3,868,646,000 after purchasing an additional 718,558 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Visa by 1.8% during the 4th quarter. Fisher Asset Management LLC now owns 9,758,703 shares of the credit-card processor’s stock worth $3,084,141,000 after purchasing an additional 173,990 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 2.8 %

V opened at $333.69 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $342.40 and its 200 day simple moving average is $319.09. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market cap of $619.91 billion, a PE ratio of 33.64, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. JPMorgan Chase & Co. lifted their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective for the company. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Citigroup reiterated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock worth $48,842,490 in the last 90 days. 0.13% of the stock is owned by company insiders.

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.