Manning & Napier Advisors LLC Buys New Stake in Mastercard Incorporated (NYSE:MA)

Manning & Napier Advisors LLC purchased a new position in shares of Mastercard Incorporated (NYSE:MA) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 587,249 shares of the credit services provider’s stock, valued at approximately $259,071,000. Mastercard accounts for 2.9% of Manning & Napier Advisors LLC’s holdings, making the stock its 4th largest position. Manning & Napier Advisors LLC owned about 0.06% of Mastercard as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. BDF Gestion purchased a new position in Mastercard in the 2nd quarter valued at approximately $11,068,000. Duncan Williams Asset Management LLC boosted its holdings in Mastercard by 8.2% in the second quarter. Duncan Williams Asset Management LLC now owns 2,974 shares of the credit services provider’s stock valued at $1,312,000 after purchasing an additional 226 shares during the period. CMH Wealth Management LLC grew its stake in Mastercard by 1.1% during the 2nd quarter. CMH Wealth Management LLC now owns 15,792 shares of the credit services provider’s stock worth $6,967,000 after purchasing an additional 173 shares in the last quarter. Talbot Financial LLC increased its holdings in Mastercard by 0.8% during the 2nd quarter. Talbot Financial LLC now owns 15,495 shares of the credit services provider’s stock worth $6,836,000 after purchasing an additional 119 shares during the period. Finally, VanderPol Investments L.L.C. acquired a new stake in Mastercard in the 2nd quarter valued at about $228,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mastercard

In related news, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $455.00, for a total value of $6,114,745.00. Following the completion of the transaction, the chief financial officer now owns 27,304 shares of the company’s stock, valued at approximately $12,423,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mastercard news, major shareholder Foundation Mastercard sold 142,000 shares of Mastercard stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $456.74, for a total value of $64,857,080.00. Following the completion of the sale, the insider now owns 95,222,308 shares in the company, valued at approximately $43,491,836,955.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO J. Mehra Sachin sold 13,439 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $455.00, for a total transaction of $6,114,745.00. Following the completion of the sale, the chief financial officer now owns 27,304 shares of the company’s stock, valued at $12,423,320. The disclosure for this sale can be found here. Insiders sold a total of 2,035,067 shares of company stock valued at $917,231,686 over the last three months. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Mastercard from $532.00 to $533.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Mastercard from $536.00 to $524.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Bank of America cut Mastercard from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $505.00 to $480.00 in a research note on Wednesday, July 10th. Royal Bank of Canada increased their price target on shares of Mastercard from $500.00 to $526.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, Piper Sandler upped their target price on shares of Mastercard from $531.00 to $536.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has an average rating of “Buy” and a consensus price target of $507.55.

Mastercard Price Performance

Shares of NYSE:MA traded up $1.15 during midday trading on Friday, hitting $456.73. 1,760,219 shares of the stock were exchanged, compared to its average volume of 2,510,757. Mastercard Incorporated has a twelve month low of $359.77 and a twelve month high of $490.00. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 1.95. The company has a 50 day moving average price of $446.78 and a 200-day moving average price of $457.13. The stock has a market cap of $424.58 billion, a P/E ratio of 36.31, a PEG ratio of 1.82 and a beta of 1.09.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, July 9th. Mastercard’s payout ratio is 20.99%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.