StoneX Group Inc. Grows Position in Visa Inc. $V

StoneX Group Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,425 shares of the credit-card processor’s stock after acquiring an additional 2,351 shares during the quarter. StoneX Group Inc.’s holdings in Visa were worth $9,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Visa by 82.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 3,409 shares of the credit-card processor’s stock valued at $1,195,000 after purchasing an additional 1,536 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in Visa by 72.4% during the first quarter. AlphaCore Capital LLC now owns 27,272 shares of the credit-card processor’s stock valued at $9,555,000 after purchasing an additional 11,453 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,042 shares of company stock worth $8,175,152 over the last quarter. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 1.2%

Shares of NYSE V opened at $330.92 on Friday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The firm has a 50-day simple moving average of $338.75 and a two-hundred day simple moving average of $346.17. The company has a market cap of $602.85 billion, a P/E ratio of 32.41, a PEG ratio of 1.94 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the firm posted $2.71 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is 26.25%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Citigroup raised Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Company 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.