Legal & General Group Plc increased its stake in Visa Inc. (NYSE:V – Free Report) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,416,394 shares of the credit-card processor’s stock after buying an additional 312,286 shares during the quarter. Visa comprises approximately 0.8% of Legal & General Group Plc’s holdings, making the stock its 14th largest holding. Legal & General Group Plc owned approximately 0.79% of Visa worth $3,783,857,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Hilltop National Bank purchased a new stake in shares of Visa in the first quarter worth approximately $1,212,000. Absolute Capital Management LLC purchased a new position in Visa during the 1st quarter valued at $404,000. Davidson Capital Management Inc. grew its position in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after acquiring an additional 44 shares during the last quarter. Empirical Finance LLC increased its stake in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital lifted its position in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on Visa
Visa Stock Up 0.8 %
Shares of V opened at $271.69 on Friday. The firm has a market cap of $496.90 billion, a P/E ratio of 30.36, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The stock’s 50 day moving average is $271.12 and its two-hundred day moving average is $273.39. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.
About Visa
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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