American International Group Inc. Trims Stock Holdings in Global Payments Inc. (NYSE:GPN)

American International Group Inc. trimmed its holdings in Global Payments Inc. (NYSE:GPN) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,260 shares of the business services provider’s stock after selling 550 shares during the period. American International Group Inc.’s holdings in Global Payments were worth $8,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new position in Global Payments in the 4th quarter valued at approximately $30,000. McGlone Suttner Wealth Management Inc. purchased a new position in Global Payments in the 4th quarter valued at approximately $41,000. CVA Family Office LLC bought a new position in Global Payments in the 4th quarter valued at $50,000. Parkside Financial Bank & Trust boosted its holdings in Global Payments by 77.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 407 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 178 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new position in Global Payments in the 4th quarter valued at $63,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Global Payments

In related news, VP Andrea M. Carter sold 3,300 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $111.34, for a total transaction of $367,422.00. Following the transaction, the vice president now owns 25,209 shares in the company, valued at $2,806,770.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by corporate insiders.

Global Payments Price Performance

GPN stock opened at $92.19 on Wednesday. The firm’s 50-day moving average price is $109.64 and its two-hundred day moving average price is $122.97. Global Payments Inc. has a 12-month low of $91.60 and a 12-month high of $141.77. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.60 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. As a group, equities analysts predict that Global Payments Inc. will post 11.08 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s dividend payout ratio is currently 19.84%.

Analysts Set New Price Targets

Several research analysts have commented on GPN shares. BMO Capital Markets cut their price target on shares of Global Payments from $143.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Citigroup cut their price target on shares of Global Payments from $163.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Morgan Stanley raised their price target on shares of Global Payments from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Monness Crespi & Hardt cut their price target on shares of Global Payments from $175.00 to $165.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, TD Cowen dropped their price objective on shares of Global Payments from $160.00 to $152.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.36.

Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.