Kinsale Capital Group Inc. Boosts Stock Position in Visa Inc. (NYSE:V)

Kinsale Capital Group Inc. raised its position in shares of Visa Inc. (NYSE:V) by 17.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,801 shares of the credit-card processor’s stock after purchasing an additional 3,936 shares during the quarter. Visa accounts for 2.2% of Kinsale Capital Group Inc.’s portfolio, making the stock its 12th largest position. Kinsale Capital Group Inc.’s holdings in Visa were worth $7,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. WFA Asset Management Corp boosted its position in Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Visa by 46.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares in the last quarter. Empowered Funds LLC boosted its position in Visa by 16.0% during the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock worth $16,328,000 after purchasing an additional 8,086 shares in the last quarter. Blue Barn Wealth LLC boosted its position in Visa by 22.2% during the first quarter. Blue Barn Wealth LLC now owns 2,773 shares of the credit-card processor’s stock worth $774,000 after purchasing an additional 503 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Visa during the first quarter worth approximately $2,499,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.5 %

Shares of NYSE:V traded up $1.39 during trading on Friday, reaching $309.64. 5,106,284 shares of the stock were exchanged, compared to its average volume of 5,762,525. The firm has a market cap of $564.26 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44. The firm’s 50-day moving average price is $287.04 and its 200 day moving average price is $275.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on V shares. Oppenheimer reissued an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen raised their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Visa 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.