Corebridge Financial Inc. Has $122.38 Million Position in Mastercard Incorporated (NYSE:MA)

Corebridge Financial Inc. cut its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,418 shares of the credit services provider’s stock after selling 522 shares during the quarter. Mastercard makes up 0.7% of Corebridge Financial Inc.’s portfolio, making the stock its 16th largest position. Corebridge Financial Inc.’s holdings in Mastercard were worth $122,384,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. NewSquare Capital LLC acquired a new position in Mastercard during the fourth quarter worth $26,000. Marshall Investment Management LLC bought a new position in shares of Mastercard in the 4th quarter valued at about $30,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Mastercard during the 4th quarter worth about $32,000. Truvestments Capital LLC raised its holdings in shares of Mastercard by 62.5% in the 4th quarter. Truvestments Capital LLC now owns 65 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 25 shares during the period. Finally, FPC Investment Advisory Inc. lifted its stake in Mastercard by 483.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 70 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 58 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Mastercard

In related news, insider Edward Grunde Mclaughlin sold 7,132 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total transaction of $3,813,337.76. Following the completion of the transaction, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. This represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MA shares. JPMorgan Chase & Co. boosted their price target on Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Susquehanna boosted their target price on Mastercard from $605.00 to $670.00 and gave the stock a “positive” rating in a report on Friday, January 31st. KeyCorp raised their price target on Mastercard from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Monness Crespi & Hardt raised shares of Mastercard from a “neutral” rating to a “buy” rating and set a $640.00 price objective on the stock in a research report on Friday, January 31st. Finally, Oppenheimer cut their target price on shares of Mastercard from $591.00 to $588.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $606.11.

Mastercard Price Performance

Shares of NYSE:MA opened at $535.14 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $487.89 billion, a PE ratio of 38.53, a PEG ratio of 2.37 and a beta of 1.10. The firm has a 50 day moving average of $547.55 and a 200-day moving average of $524.95. Mastercard Incorporated has a 12 month low of $428.86 and a 12 month high of $582.23.

Mastercard (NYSE:MA) last released its earnings results on Thursday, January 30th. The credit services provider reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 17th that authorizes the company to buyback $12.00 billion in shares. This buyback authorization authorizes the credit services provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is presently 21.89%.

About Mastercard

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.