StoneX Group Inc. Makes New Investment in Visa Inc. (NYSE:V)

StoneX Group Inc. purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 24,328 shares of the credit-card processor's stock, valued at approximately $7,688,000.

A number of other hedge funds have also added to or reduced their stakes in V. Riverstone Advisors LLC bought a new stake in shares of Visa during the fourth quarter worth about $217,000. Journey Strategic Wealth LLC increased its position in Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock valued at $3,058,000 after acquiring an additional 1,361 shares during the period. King Wealth Management Group increased its position in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after acquiring an additional 6,172 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Visa during the fourth quarter valued at $10,163,000. Finally, Copley Financial Group Inc. acquired a new position in shares of Visa during the third quarter worth $616,000. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company's stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,205 shares of company stock valued at $48,560,961. Company insiders own 0.13% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on V shares. JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Morgan Stanley raised their price target on shares of 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 issued a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Finally, Wells Fargo & Company upped their price target 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. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $355.84.

Visa Price Performance

NYSE V traded up $0.14 during trading on Wednesday, hitting $346.49. 5,667,347 shares of the stock traded hands, compared to its average volume of 7,155,363. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $643.70 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The firm has a 50-day simple moving average of $344.68 and a 200-day simple moving average of $316.37.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend 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.