Penserra Capital Management LLC Decreases Stock Position in Mastercard Incorporated (NYSE:MA)

Penserra Capital Management LLC lessened its stake in Mastercard Incorporated (NYSE:MA) by 11.9% in the first quarter, HoldingsChannel reports. The fund owned 40,908 shares of the credit services provider’s stock after selling 5,530 shares during the period. Penserra Capital Management LLC’s holdings in Mastercard were worth $22,421,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Mastercard during the fourth quarter valued at approximately $6,022,224,000. GAMMA Investing LLC raised its holdings in Mastercard by 65,631.5% during the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock valued at $4,508,636,000 after buying an additional 8,213,123 shares during the last quarter. Northern Trust Corp boosted its position in Mastercard by 15.2% during the 4th quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock valued at $4,817,684,000 after buying an additional 1,207,787 shares during the period. Sanders Capital LLC purchased a new stake in Mastercard during the 4th quarter valued at $617,303,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Mastercard in the 4th quarter worth $561,313,000. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. KeyCorp upped their price objective on shares of Mastercard from $630.00 to $635.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Evercore ISI started coverage on Mastercard in a research report on Wednesday, April 9th. They set an “in-line” rating and a $550.00 price target for the company. Citigroup increased their price objective on Mastercard from $650.00 to $652.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Truist Financial started coverage on Mastercard in a research note on Monday, June 2nd. They set a “buy” rating and a $640.00 target price on the stock. Finally, Tigress Financial reaffirmed a “strong-buy” rating on shares of Mastercard in a research note on Monday, March 10th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $611.50.

Insider Activity at Mastercard

In other news, Director Julius Genachowski sold 310 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $561.00, for a total transaction of $173,910.00. Following the sale, the director owned 8,323 shares in the company, valued at $4,669,203. This represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $560.00, for a total transaction of $536,480.00. Following the sale, the insider directly owned 23,624 shares of the company’s stock, valued at $13,229,440. This trade represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,441 shares of company stock worth $20,173,035 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

Mastercard Stock Performance

Mastercard stock opened at $566.53 on Friday. Mastercard Incorporated has a twelve month low of $428.86 and a twelve month high of $594.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The company has a market capitalization of $516.51 billion, a P/E ratio of 39.73, a PEG ratio of 2.47 and a beta of 1.02. The stock’s 50 day moving average is $566.83 and its 200 day moving average is $546.68.

Mastercard (NYSE:MA) last released its earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.16. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The firm had revenue of $7.25 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the prior year, the firm posted $3.31 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Wednesday, July 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Wednesday, July 9th. Mastercard’s payout ratio is 21.32%.

Mastercard Company Profile

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.