Premier Fund Managers Ltd Sells 25,825 Shares of Visa Inc. (NYSE:V)


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Premier Fund Managers Ltd cut its position in shares of Visa Inc. (NYSE:V) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,618 shares of the credit-card processor’s stock after selling 25,825 shares during the quarter. Visa accounts for about 1.5% of Premier Fund Managers Ltd’s portfolio, making the stock its 16th biggest holding. Premier Fund Managers Ltd’s holdings in Visa were worth $34,198,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in Visa by 290.9% during the third quarter. Great West Life Assurance Co. Can now owns 7,106,202 shares of the credit-card processor’s stock valued at $345,975,000 after purchasing an additional 5,288,239 shares during the last quarter. TCI Fund Management Ltd. boosted its position in Visa by 25.3% during the third quarter. TCI Fund Management Ltd. now owns 14,057,890 shares of the credit-card processor’s stock valued at $2,811,156,000 after purchasing an additional 2,842,505 shares during the last quarter. Egerton Capital UK LLP acquired a new position in Visa during the third quarter valued at approximately $422,799,000. FIL Ltd boosted its position in Visa by 109.1% during the fourth quarter. FIL Ltd now owns 3,915,056 shares of the credit-card processor’s stock valued at $856,340,000 after purchasing an additional 2,042,770 shares during the last quarter. Finally, Morgan Stanley boosted its position in Visa by 6.2% during the third quarter. Morgan Stanley now owns 33,936,061 shares of the credit-card processor’s stock valued at $6,786,197,000 after purchasing an additional 1,975,972 shares during the last quarter. Institutional investors and hedge funds own 80.50% of the company’s stock.

A number of analysts have recently issued reports on the company. BMO Capital Markets cut their price objective on Visa from $210.00 to $204.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Sanford C. Bernstein assumed coverage on Visa in a research report on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price objective for the company. Jefferies Financial Group raised Visa from a “hold” rating to a “buy” rating and raised their price objective for the company from $195.00 to $250.00 in a research report on Wednesday, January 13th. Credit Suisse Group raised their price objective on Visa from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, January 29th. Finally, Raymond James cut their price objective on Visa from $217.00 to $211.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $222.64.

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction on Monday, November 30th. The stock was sold at an average price of $209.40, for a total transaction of $1,884,600.00. Following the sale, the chief executive officer now owns 132,660 shares in the company, valued at approximately $27,779,004. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James H. Hoffmeister sold 2,157 shares of the business’s stock in a transaction on Wednesday, December 2nd. The stock was sold at an average price of $208.87, for a total value of $450,532.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,398 shares of company stock worth $17,896,223. Corporate insiders own 0.19% of the company’s stock.

Visa stock traded up $1.46 during mid-day trading on Tuesday, reaching $209.78. 87,800 shares of the company were exchanged, compared to its average volume of 10,284,387. The company has a fifty day simple moving average of $205.99 and a 200-day simple moving average of $204.63. Visa Inc. has a 12 month low of $133.93 and a 12 month high of $220.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market cap of $409.56 billion, a PE ratio of 42.58, a PEG ratio of 3.80 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 28th. The credit-card processor reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.14. Visa had a return on equity of 37.22% and a net margin of 49.74%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the company posted $1.46 EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 5.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 12th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.61%. Visa’s payout ratio is 25.40%.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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