Allstate Corp Trims Holdings in Mastercard Incorporated (NYSE:MA)

Allstate Corp reduced its stake in shares of Mastercard Incorporated (NYSE:MA) by 5.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,845 shares of the credit services provider’s stock after selling 154 shares during the period. Allstate Corp’s holdings in Mastercard were worth $1,213,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MA. Norges Bank acquired a new stake in Mastercard in the fourth quarter valued at approximately $4,595,559,000. International Assets Investment Management LLC lifted its holdings in Mastercard by 43,445.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,936,684 shares of the credit services provider’s stock worth $1,252,525,000 after purchasing an additional 2,929,940 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Mastercard by 3,339.9% in the third quarter. Assenagon Asset Management S.A. now owns 815,506 shares of the credit services provider’s stock worth $322,867,000 after purchasing an additional 791,799 shares during the period. Lone Pine Capital LLC raised its position in Mastercard by 48.4% in the third quarter. Lone Pine Capital LLC now owns 1,746,342 shares of the credit services provider’s stock worth $691,394,000 after acquiring an additional 569,534 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Mastercard by 30.4% in the third quarter. Envestnet Asset Management Inc. now owns 1,839,088 shares of the credit services provider’s stock worth $728,113,000 after acquiring an additional 428,627 shares in the last quarter. 97.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MA. Piper Sandler started coverage on Mastercard in a report on Monday, May 13th. They set an “overweight” rating and a $531.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Mastercard in a research report on Wednesday, January 31st. KeyCorp upped their price target on Mastercard from $475.00 to $490.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Barclays cut their target price on Mastercard from $549.00 to $530.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Mastercard from $520.00 to $510.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Mastercard presently has an average rating of “Moderate Buy” and an average target price of $497.78.

Mastercard Trading Down 0.8 %

MA traded down $3.43 on Thursday, hitting $453.09. The company had a trading volume of 775,441 shares, compared to its average volume of 2,414,391. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.86. The company has a market cap of $421.20 billion, a PE ratio of 36.08, a PEG ratio of 1.80 and a beta of 1.08. Mastercard Incorporated has a 12-month low of $357.85 and a 12-month high of $490.00. The business’s fifty day simple moving average is $465.42 and its 200 day simple moving average is $444.90.

Mastercard (NYSE:MA) last issued its quarterly earnings data on Wednesday, May 1st. The credit services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.09. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.34 billion. Mastercard had a net margin of 46.09% and a return on equity of 183.70%. Mastercard’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Equities research analysts expect that Mastercard Incorporated will post 14.23 EPS for the current year.

Insider Activity at Mastercard

In related news, major shareholder Foundation Mastercard sold 200 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $487.25, for a total transaction of $97,450.00. Following the completion of the transaction, the insider now owns 97,543,308 shares of the company’s stock, valued at approximately $47,527,976,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mastercard news, CEO Michael Miebach sold 7,851 shares of Mastercard stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $475.92, for a total transaction of $3,736,447.92. Following the completion of the transaction, the chief executive officer now owns 47,640 shares in the company, valued at $22,672,828.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Foundation Mastercard sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $487.25, for a total transaction of $97,450.00. Following the completion of the transaction, the insider now directly owns 97,543,308 shares of the company’s stock, valued at approximately $47,527,976,823. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,681,580 shares of company stock valued at $765,101,407. Corporate insiders own 0.10% of the company’s stock.

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.