Citizens Financial Group Inc. RI Has $26.46 Million Position in Visa Inc. (NYSE:V)

Citizens Financial Group Inc. RI increased its holdings in Visa Inc. (NYSE:V) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,237 shares of the credit-card processor’s stock after purchasing an additional 3,546 shares during the period. Citizens Financial Group Inc. RI’s holdings in Visa were worth $26,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Payden & Rygel lifted its holdings in shares of Visa by 12.4% during the third quarter. Payden & Rygel now owns 60,700 shares of the credit-card processor’s stock valued at $16,689,000 after acquiring an additional 6,700 shares during the period. EagleClaw Capital Managment LLC lifted its holdings in Visa by 4.1% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 20,692 shares of the credit-card processor’s stock valued at $5,689,000 after purchasing an additional 815 shares during the last quarter. Altman Advisors Inc. acquired a new position in Visa in the third quarter valued at about $2,068,000. First Horizon Advisors Inc. grew its stake in Visa by 3.7% during the third quarter. First Horizon Advisors Inc. now owns 24,665 shares of the credit-card processor’s stock worth $6,782,000 after buying an additional 883 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Visa by 2.7% during the third quarter. Advisors Asset Management Inc. now owns 224,515 shares of the credit-card processor’s stock worth $61,730,000 after buying an additional 5,969 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. TD Cowen boosted their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Robert W. Baird upped their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler raised their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Down 1.4 %

V stock opened at $307.39 on Thursday. The stock has a market capitalization of $560.16 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.09 and a beta of 0.95. Visa Inc. has a fifty-two week low of $250.03 and a fifty-two week high of $312.44. The business has a 50-day moving average of $288.57 and a 200-day moving average of $276.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.33 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

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.