JCIC Asset Management Inc. Takes $8.33 Million Position in Visa Inc. $V

JCIC Asset Management Inc. acquired a new position in shares of Visa Inc. (NYSE:V) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,406 shares of the credit-card processor’s stock, valued at approximately $8,332,000. Visa comprises approximately 2.6% of JCIC Asset Management Inc.’s portfolio, making the stock its 11th largest holding.

Other large investors have also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new position in Visa in the 2nd quarter valued at approximately $29,000. Sagard Holdings Management Inc. bought a new stake in Visa during the 2nd quarter worth approximately $31,000. Bare Financial Services Inc increased its position in Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Hoese & Co LLP acquired a new position in shares of Visa during the second quarter worth $36,000. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,042 shares of company stock valued at $8,247,289 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Visa Trading Up 0.2%

Shares of V stock opened at $328.41 on Tuesday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day simple moving average of $339.29 and a two-hundred day simple moving average of $343.18. The company has a market cap of $598.28 billion, a P/E ratio of 32.17, a PEG ratio of 1.93 and a beta of 0.81.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the firm posted $2.71 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Analyst Ratings Changes

V has been the subject of a number of recent research reports. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Finally, HSBC raised shares of Visa from a “hold” rating to a “buy” rating and increased their target price for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $402.52.

Visa 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.