Citizens Financial Group Inc. RI Has $32.01 Million Stock Position in Visa Inc. (NYSE:V)

Citizens Financial Group Inc. RI grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,289 shares of the credit-card processor's stock after acquiring an additional 5,052 shares during the period. Citizens Financial Group Inc. RI's holdings in Visa were worth $32,011,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of V. Riverstone Advisors LLC acquired a new position in Visa in the 4th quarter valued at about $217,000. Journey Strategic Wealth LLC raised its position in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after buying an additional 1,361 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Visa in the 4th quarter valued at about $10,163,000. Copley Financial Group Inc. acquired a new position in Visa during the third quarter valued at approximately $616,000. Finally, Calamos Wealth Management LLC boosted its position in Visa by 0.6% during the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor's stock worth $24,475,000 after purchasing an additional 435 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 64,505 shares of company stock worth $22,290,507 in the last quarter. 0.13% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on V. Morgan Stanley upped their price target on Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Piper Sandler reaffirmed an "overweight" rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. UBS Group boosted their price objective 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. Oppenheimer reissued an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group increased their target price on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus price target of $353.96.

Visa Price Performance

V traded up $0.32 during midday trading on Wednesday, reaching $332.46. 3,909,818 shares of the company's stock were exchanged, compared to its average volume of 6,361,095. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The firm has a market capitalization of $617.63 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The business has a 50-day simple moving average of $337.01 and a two-hundred day simple moving average of $309.89. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate 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, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa's payout ratio is 23.79%.

About Visa

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.