Citizens Financial Group Inc. RI Increases Stake in Visa Inc. (NYSE:V)

Citizens Financial Group Inc. RI boosted its stake in shares of Visa Inc. (NYSE:V) by 28.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,691 shares of the credit-card processor’s stock after purchasing an additional 20,657 shares during the period. Citizens Financial Group Inc. RI’s holdings in Visa were worth $24,328,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of V. Westend Capital Management LLC purchased a new position in Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in Visa during the fourth quarter valued at $25,000. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter worth about $33,000. Finally, TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Evercore ISI decreased their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $309.81.

Visa Stock Performance

NYSE:V opened at $287.35 on Monday. The stock has a market capitalization of $523.64 billion, a P/E ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a 50 day moving average price of $268.29 and a 200 day moving average price of $273.16.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $2.16 earnings per share. Equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.