Everence Capital Management Inc. Buys New Shares in Visa Inc. (NYSE:V)


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Everence Capital Management Inc. bought a new stake in shares of Visa Inc. (NYSE:V) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 43,643 shares of the credit-card processor’s stock, valued at approximately $9,241,000. Visa comprises approximately 0.8% of Everence Capital Management Inc.’s investment portfolio, making the stock its 16th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Essex Financial Services Inc. increased its holdings in Visa by 9.3% in the 4th quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock valued at $5,002,000 after buying an additional 1,944 shares during the period. Ritholtz Wealth Management increased its holdings in Visa by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 10,442 shares of the credit-card processor’s stock valued at $2,284,000 after buying an additional 410 shares during the period. Institute for Wealth Management LLC. increased its holdings in Visa by 4.9% in the 4th quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock valued at $2,972,000 after buying an additional 629 shares during the period. Merrion Investment Management Co LLC bought a new stake in Visa in the 4th quarter valued at $551,000. Finally, Altium Wealth Management LLC increased its holdings in Visa by 4.0% in the 4th quarter. Altium Wealth Management LLC now owns 20,216 shares of the credit-card processor’s stock valued at $4,422,000 after buying an additional 776 shares during the period. Hedge funds and other institutional investors own 80.50% of the company’s stock.

Visa stock traded up $0.54 during trading hours on Thursday, reaching $219.81. 300,845 shares of the company’s stock traded hands, compared to its average volume of 10,067,009. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.91 and a current ratio of 1.91. Visa Inc. has a fifty-two week low of $159.15 and a fifty-two week high of $228.23. The firm has a market capitalization of $429.14 billion, a price-to-earnings ratio of 44.93, a PEG ratio of 3.80 and a beta of 0.96. The firm’s 50 day moving average is $214.52 and its 200-day moving average is $207.22.

Visa (NYSE:V) last released its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Visa had a net margin of 49.74% and a return on equity of 37.22%. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the prior year, the company posted $1.46 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Analysts predict that Visa Inc. will post 5.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.28 dividend on an annualized basis and a yield of 0.58%. Visa’s payout ratio is presently 25.40%.

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Visa in a report on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price target on the stock. Barclays reaffirmed a “buy” rating and issued a $230.00 target price on shares of Visa in a report on Tuesday, December 22nd. KeyCorp upped their target price on shares of Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, January 13th. Morgan Stanley upped their target price on shares of Visa from $233.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Finally, Jefferies Financial Group raised shares of Visa from a “hold” rating to a “buy” rating and upped their target price for the stock from $195.00 to $250.00 in a report on Wednesday, January 13th. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $226.42.

In related news, President Ryan Mcinerney sold 11,194 shares of the stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $213.87, for a total value of $2,394,060.78. Following the sale, the president now directly owns 11,194 shares in the company, valued at approximately $2,394,060.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Matschullat sold 29,956 shares of the stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $223.02, for a total transaction of $6,680,787.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,093 shares of company stock worth $20,418,578. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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