Connor Clark & Lunn Investment Management Ltd. Sells 98,285 Shares of Visa Inc. (NYSE:V)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of Visa Inc. (NYSE:V) by 52.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,171 shares of the credit-card processor’s stock after selling 98,285 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Visa were worth $28,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new stake in shares of Visa in the third quarter worth about $26,000. Decker Retirement Planning Inc. purchased a new position in Visa during the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Visa in the 4th quarter worth approximately $27,000. POM Investment Strategies LLC increased its stake in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa during the 4th quarter worth approximately $32,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $333.01 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $618.66 billion, a PE ratio of 33.57, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a 50 day moving average price of $337.35 and a 200-day moving average price of $310.05. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,505 shares of company stock worth $22,290,507 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of recent research reports. Citigroup reissued a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Raymond James restated an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company upped their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group upped their target price on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Barclays upped their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa 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.