Nippon Life Global Investors Americas Inc. Has $28.33 Million Position in Visa Inc. (V)
Nippon Life Global Investors Americas Inc. reduced its position in shares of Visa Inc. (NYSE:V) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 318,800 shares of the credit-card processor’s stock after selling 3,670 shares during the period. Visa comprises approximately 2.5% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 5th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Visa were worth $28,333,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Independent Advisor Alliance bought a new position in Visa during the fourth quarter worth about $1,512,000. Archford Capital Strategies LLC increased its position in Visa by 0.6% in the fourth quarter. Archford Capital Strategies LLC now owns 28,041 shares of the credit-card processor’s stock worth $2,186,000 after buying an additional 179 shares during the last quarter. LeJeune Puetz Investment Counsel LLC bought a new position in Visa during the fourth quarter worth about $959,000. IFM Investors Pty Ltd bought a new position in Visa during the fourth quarter worth about $1,892,000. Finally, Thrivent Financial for Lutherans increased its position in Visa by 10.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,822,778 shares of the credit-card processor’s stock worth $220,233,000 after buying an additional 257,340 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors.
Shares of Visa Inc. (V) traded up 0.60% during trading on Friday, reaching $100.09. 5,268,197 shares of the company’s stock were exchanged. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $101.72. The stock has a 50-day moving average price of $97.74 and a 200 day moving average price of $92.09. The firm has a market cap of $228.85 billion, a price-to-earnings ratio of 37.22 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post $3.43 EPS for the current year.
Visa declared that its board has authorized a stock buyback program on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.66%. Visa’s payout ratio is 24.54%.
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A number of research analysts recently issued reports on V shares. Piper Jaffray Companies reiterated a “neutral” rating and set a $45.00 target price on shares of Visa in a research report on Friday, April 14th. Royal Bank Of Canada boosted their target price on shares of Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Cowen and Company reiterated an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Visa in a research report on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $104.00 target price on shares of Visa in a research report on Sunday, April 23rd. Finally, Instinet reiterated a “buy” rating and set a $105.00 target price (up previously from $103.00) on shares of Visa in a research report on Sunday, April 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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