14,012 Visa Inc. $V Shares Acquired by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 28.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,294 shares of the credit-card processor’s stock after purchasing an additional 14,012 shares during the quarter. Visa accounts for approximately 3.0% of Kinsale Capital Group Inc.’s portfolio, making the stock its 4th largest position. Kinsale Capital Group Inc.’s holdings in Visa were worth $22,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Cpwa LLC lifted its holdings in shares of Visa by 1.4% in the third quarter. Cpwa LLC now owns 2,300 shares of the credit-card processor’s stock valued at $895,000 after purchasing an additional 32 shares in the last quarter. 71 West Capital Partners boosted its position in shares of Visa by 3.5% during the third quarter. 71 West Capital Partners now owns 16,193 shares of the credit-card processor’s stock valued at $5,819,000 after buying an additional 549 shares during the last quarter. Pinion Investment Advisors LLC boosted its position in shares of Visa by 1.3% during the third quarter. Pinion Investment Advisors LLC now owns 5,540 shares of the credit-card processor’s stock valued at $1,991,000 after buying an additional 70 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Visa by 15.1% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 399,895 shares of the credit-card processor’s stock worth $143,694,000 after buying an additional 52,593 shares in the last quarter. Finally, Gryphon Financial Partners LLC grew its holdings in Visa by 2.2% during the third quarter. Gryphon Financial Partners LLC now owns 13,708 shares of the credit-card processor’s stock worth $4,926,000 after buying an additional 298 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Argus increased their price target on Visa from $396.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Oppenheimer lifted their price objective on shares of Visa from $403.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. Weiss Ratings lowered shares of Visa from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, October 28th. Citigroup reiterated a “buy” rating and issued a $440.00 target price (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Evercore set a $405.00 target price on shares of Visa in a report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $440.82.

Visa Price Performance

Shares of NYSE V opened at $422.46 on Tuesday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $442.23. The stock’s 50 day moving average price is $386.67 and its 200-day moving average price is $345.18. The company has a market capitalization of $753.84 billion, a PE ratio of 34.26, a PEG ratio of 1.86 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.04. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. Visa’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.98 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 15.02 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a $0.78 dividend. This is a boost from Visa’s previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is currently 21.74%.

Insiders Place Their Bets

In other news, General Counsel Julie Rottenberg sold 2,028 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. This trade represents a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Friday, August 21st. The stock was sold at an average price of $367.87, for a total value of $2,161,236.25. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,582,059.38. The trade was a 27.91% 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. Insiders sold a total of 27,395 shares of company stock valued at $10,406,050 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Visa Profile

Visa Inc operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online.

The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.

Visa traces its roots to BankAmericard, a bank card program launched in California in 1958.