Danica Pension Livsforsikringsaktieselskab Takes Position in Visa Inc. $V

Danica Pension Livsforsikringsaktieselskab acquired a new position in Visa Inc. (NYSE:V) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 91,717 shares of the credit-card processor’s stock, valued at approximately $27,721,000.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Brighton Jones LLC grew its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its position in shares of Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after buying an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY lifted its stake in shares of Visa by 16.9% in the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. lifted its stake in shares of Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after buying an additional 2,230 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Piper Sandler assumed coverage on Visa in a research report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $398.36.

Visa Price Performance

NYSE:V opened at $355.94 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50-day moving average of $335.74 and a 200-day moving average of $325.08. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.14. The company has a market capitalization of $638.47 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 1.92 and a beta of 0.75.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the previous year, the firm posted $2.76 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 13.13 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 23.34%.

Visa announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is currently owned by company insiders.

Visa Profile

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.