Visa Inc. (NYSE:V) Position Raised by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in Visa Inc. (NYSE:V) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,237 shares of the credit-card processor’s stock after acquiring an additional 3,546 shares during the period. Citizens Financial Group Inc. RI’s holdings in Visa were worth $26,460,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter worth about $26,000. POM Investment Strategies LLC boosted its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of Visa stock opened at $307.39 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $288.57 and a 200-day simple moving average of $276.84. The stock has a market capitalization of $560.16 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.09 and a beta of 0.95. Visa Inc. has a 1-year low of $250.03 and a 1-year high of $312.44.

Visa (NYSE:V) last released its 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 analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Royal Bank of Canada boosted their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling

In other Visa 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 value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $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 available at this link. 0.19% of the stock is currently owned by 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.