Munich Reinsurance Co Stock Corp in Munich Sells 19,384 Shares of Visa Inc. $V

Munich Reinsurance Co Stock Corp in Munich trimmed its position in Visa Inc. (NYSE:VFree Report) by 13.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 122,010 shares of the credit-card processor’s stock after selling 19,384 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Visa were worth $36,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Clayton Financial Group LLC grew its holdings in Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares in the last quarter. PayPay Securities Corp raised its holdings in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC lifted its position in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management purchased a new stake in shares of Visa in the 4th quarter worth approximately $30,000. Institutional investors own 82.15% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. Barclays began coverage on shares of Visa in a report on Tuesday. They set an “overweight” rating and a $420.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Citigroup dropped their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Six investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $397.91.

Read Our Latest Analysis on Visa

Visa Stock Up 0.0%

NYSE:V opened at $347.57 on Friday. The company has a market cap of $623.46 billion, a PE ratio of 30.28, a P/E/G ratio of 1.86 and a beta of 0.75. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.02. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $330.52 and its two-hundred day moving average is $324.88.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter last year, the company posted $2.76 earnings per share. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 13.1 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is owned by company insiders.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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