Zurich Insurance Group Ltd FI lessened its holdings in shares of Visa Inc (NYSE:V) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,235 shares of the credit-card processor’s stock after selling 7,805 shares during the period. Visa comprises approximately 1.3% of Zurich Insurance Group Ltd FI’s investment portfolio, making the stock its 10th biggest position. Zurich Insurance Group Ltd FI’s holdings in Visa were worth $66,510,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Visa by 30.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,386 shares of the credit-card processor’s stock valued at $3,364,000 after acquiring an additional 4,558 shares in the last quarter. Alberta Investment Management Corp increased its position in shares of Visa by 1.6% during the second quarter. Alberta Investment Management Corp now owns 276,500 shares of the credit-card processor’s stock worth $47,987,000 after purchasing an additional 4,300 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Visa by 13.4% during the second quarter. AQR Capital Management LLC now owns 1,374,904 shares of the credit-card processor’s stock worth $238,615,000 after purchasing an additional 162,602 shares in the last quarter. Cahill Financial Advisors Inc. increased its position in shares of Visa by 2.5% during the second quarter. Cahill Financial Advisors Inc. now owns 9,404 shares of the credit-card processor’s stock worth $1,633,000 after purchasing an additional 233 shares in the last quarter. Finally, PointState Capital LP acquired a new position in shares of Visa during the second quarter worth $9,644,000. Institutional investors and hedge funds own 80.99% of the company’s stock.
A number of equities analysts have recently issued reports on V shares. Citigroup upped their price target on Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Guggenheim boosted their price objective on shares of Visa from $178.00 to $190.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on shares of Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 19th. SunTrust Banks upped their price target on shares of Visa to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Piper Jaffray Companies set a $207.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa has a consensus rating of “Buy” and an average price target of $196.57.
Shares of Visa stock traded down $0.81 during trading hours on Friday, reaching $175.15. The stock had a trading volume of 5,640,285 shares, compared to its average volume of 6,061,826. The stock’s 50 day moving average is $178.33 and its 200 day moving average is $168.11. The firm has a market capitalization of $350.06 billion, a PE ratio of 37.99, a PEG ratio of 1.98 and a beta of 0.97. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57.
Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 earnings per share. As a group, sell-side analysts predict that Visa Inc will post 5.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were given a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. Visa’s dividend payout ratio (DPR) is currently 21.69%.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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