Renaissance Group LLC Has $36.18 Million Stock Position in Mastercard Incorporated $MA

Renaissance Group LLC lowered its holdings in Mastercard Incorporated (NYSE:MA) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,387 shares of the credit services provider’s stock after selling 2,345 shares during the period. Mastercard makes up 1.4% of Renaissance Group LLC’s portfolio, making the stock its 20th biggest position. Renaissance Group LLC’s holdings in Mastercard were worth $36,181,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Accredited Investors Inc. grew its position in Mastercard by 2.6% during the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider’s stock worth $394,000 after buying an additional 18 shares in the last quarter. Wealthstream Advisors Inc. grew its position in shares of Mastercard by 2.9% during the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider’s stock worth $347,000 after buying an additional 18 shares during the period. Pinion Investment Advisors LLC boosted its position in shares of Mastercard by 0.8% in the 2nd quarter. Pinion Investment Advisors LLC now owns 2,272 shares of the credit services provider’s stock worth $1,276,000 after purchasing an additional 18 shares during the last quarter. KRS Capital Management LLC increased its stake in shares of Mastercard by 0.6% in the 2nd quarter. KRS Capital Management LLC now owns 2,848 shares of the credit services provider’s stock valued at $1,601,000 after acquiring an additional 18 shares during the last quarter. Finally, Nvest Financial LLC increased its holdings in shares of Mastercard by 1.2% in the second quarter. Nvest Financial LLC now owns 1,505 shares of the credit services provider’s stock worth $846,000 after acquiring an additional 18 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO J. Mehra Sachin sold 17,263 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares in the company, valued at $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

Mastercard Stock Down 1.7%

Shares of NYSE MA opened at $527.63 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market cap of $473.81 billion, a PE ratio of 35.58, a P/E/G ratio of 2.27 and a beta of 0.92. The company’s fifty day simple moving average is $566.34 and its 200 day simple moving average is $569.80. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 30th. The credit services provider reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.31 by $0.07. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.53 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 earnings per share. As a group, sell-side analysts forecast that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Thursday, October 9th were issued a $0.76 dividend. The ex-dividend date was Thursday, October 9th. This represents a $3.04 annualized dividend and a yield of 0.6%. Mastercard’s dividend payout ratio is presently 19.44%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. KeyCorp reiterated an “overweight” rating and issued a $665.00 price objective on shares of Mastercard in a report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $713.00 target price on shares of Mastercard in a report on Thursday, October 30th. Royal Bank Of Canada increased their target price on shares of Mastercard from $645.00 to $654.00 and gave the stock a “buy” rating in a report on Friday, October 31st. TD Cowen reissued a “buy” rating and set a $645.00 price target on shares of Mastercard in a research note on Monday, August 11th. Finally, Wells Fargo & Company lowered their target price on Mastercard from $669.00 to $660.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $652.50.

Mastercard 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.