Visa Inc. $V Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its position in Visa Inc. (NYSE:V) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,456 shares of the credit-card processor’s stock after selling 1,833 shares during the period. Visa accounts for about 0.9% of Securian Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Securian Asset Management Inc.’s holdings in Visa were worth $31,761,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of V. Keystone Global Partners LLC acquired a new position in Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC acquired a new position in Visa in the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. acquired a new position in Visa in the second quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday. Barclays restated an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Stock Performance

V opened at $345.10 on Thursday. The business’s 50 day moving average is $344.72 and its 200-day moving average is $347.09. The stock has a market cap of $632.50 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.

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.