Kinsale Capital Group Inc. Raises Holdings in Visa Inc. (NYSE:V)

Kinsale Capital Group Inc. grew its position in Visa Inc. (NYSE:V) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,085 shares of the credit-card processor’s stock after acquiring an additional 3,284 shares during the quarter. Visa accounts for about 2.6% of Kinsale Capital Group Inc.’s holdings, making the stock its 6th largest position. Kinsale Capital Group Inc.’s holdings in Visa were worth $9,508,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC boosted its position in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. State Street Corp boosted its position in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC grew its stake in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Visa in the third quarter valued at approximately $268,640,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on V. Citigroup restated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Barclays increased their target price on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Friday, January 31st. Morgan Stanley increased their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Up 2.1 %

Visa stock opened at $363.33 on Monday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $364.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $674.99 billion, a price-to-earnings ratio of 36.63, a PEG ratio of 2.33 and a beta of 0.97. The company’s 50 day simple moving average is $333.03 and its 200 day simple moving average is $305.97.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Transactions at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock valued at $19,161,447 over the last 90 days. 0.13% of the stock is owned by company insiders.

About Visa

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.