Sentry Investment Management LLC Increases Holdings in Visa Inc (V)
Sentry Investment Management LLC raised its holdings in shares of Visa Inc (NYSE:V) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,209 shares of the credit-card processor’s stock after acquiring an additional 1,572 shares during the period. Sentry Investment Management LLC’s holdings in Visa were worth $13,899,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Motco increased its holdings in shares of Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after purchasing an additional 236 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Visa during the 2nd quarter valued at approximately $115,000. Mascoma Wealth Management LLC purchased a new position in shares of Visa during the 2nd quarter valued at approximately $122,000. SpiderRock Advisors LLC increased its holdings in shares of Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after purchasing an additional 19,709 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Visa during the 2nd quarter valued at approximately $125,000. Institutional investors and hedge funds own 81.91% of the company’s stock.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now owns 687 shares of the company’s stock, valued at approximately $77,005.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last announced its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. research analysts predict that Visa Inc will post 4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, November 16th. This is a boost from Visa’s previous quarterly dividend of $0.17. Visa’s payout ratio is 27.86%.
Several equities analysts have recently weighed in on V shares. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $100.88 target price for the company. in a report on Tuesday, August 22nd. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a report on Thursday, August 24th. UBS reaffirmed an “overweight” rating on shares of Visa in a report on Thursday, August 24th. KeyCorp reaffirmed a “buy” rating and set a $110.00 target price on shares of Visa in a report on Friday, August 25th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Visa in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $117.23.
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Visa Company Profile
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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