Renaissance Group LLC Has $36.87 Million Holdings in Visa Inc. $V

Renaissance Group LLC cut its holdings in Visa Inc. (NYSE:V) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,848 shares of the credit-card processor’s stock after selling 4,181 shares during the period. Visa makes up 1.4% of Renaissance Group LLC’s investment portfolio, making the stock its 16th biggest holding. Renaissance Group LLC’s holdings in Visa were worth $36,871,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Primecap Management Co. CA lifted its position in shares of Visa by 9.7% in the second quarter. Primecap Management Co. CA now owns 4,247,543 shares of the credit-card processor’s stock worth $1,508,090,000 after buying an additional 374,263 shares during the last quarter. Stonebrook Private Inc. raised its stake in shares of Visa by 0.6% in the 2nd quarter. Stonebrook Private Inc. now owns 8,404 shares of the credit-card processor’s stock valued at $2,984,000 after acquiring an additional 48 shares in the last quarter. Aspen Investment Management Inc lifted its holdings in Visa by 0.9% in the 2nd quarter. Aspen Investment Management Inc now owns 7,400 shares of the credit-card processor’s stock worth $2,627,000 after purchasing an additional 66 shares during the last quarter. Traub Capital Management LLC bought a new stake in Visa during the second quarter worth approximately $504,000. Finally, Highview Capital Management LLC DE boosted its position in Visa by 0.7% during the second quarter. Highview Capital Management LLC DE now owns 20,549 shares of the credit-card processor’s stock worth $7,296,000 after purchasing an additional 139 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Macquarie cut their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.5%

NYSE V opened at $320.78 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a 50-day simple moving average of $341.36 and a 200 day simple moving average of $348.40. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock has a market cap of $584.37 billion, a PE ratio of 31.42, a PEG ratio of 1.97 and a beta of 0.87.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 earnings per share. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,870 shares of company stock valued at $7,467,233. 0.13% of the stock is owned by company 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.