Sei Investments Co. Purchases 57,034 Shares of Visa Inc. (NYSE:V)

Sei Investments Co. lifted its position in Visa Inc. (NYSE:V) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665,218 shares of the credit-card processor’s stock after buying an additional 57,034 shares during the quarter. Visa comprises approximately 0.6% of Sei Investments Co.’s holdings, making the stock its 23rd biggest position. Sei Investments Co. owned approximately 0.09% of Visa worth $437,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth $25,000. Westend Capital Management LLC acquired a new stake in shares of Visa during the first quarter worth $25,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Morgan Stanley dropped their price target on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Visa Price Performance

Shares of V opened at $284.67 on Friday. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $270.65 and its two-hundred day moving average price is $273.49. The firm has a market cap of $518.76 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Visa Company Profile

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.