AEGON ASSET MANAGEMENT UK Plc Has $2.45 Million Stock Holdings in Mastercard Incorporated $MA

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in Mastercard by 516.9% during the second quarter, now holding shares valued at $2.45 million.
• Insider selling was noted as CFO J. Mehra Sachin sold 17,816 shares of Mastercard, significantly reducing their position by 36.32%.
• Wall Street analysts have bolstered their price targets for Mastercard, with KeyCorp raising it to $660, indicating a strong market outlook.

AEGON ASSET MANAGEMENT UK Plc boosted its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 516.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,355 shares of the credit services provider's stock after purchasing an additional 3,649 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in Mastercard were worth $2,446,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Innova Wealth Partners grew its holdings in Mastercard by 13.6% in the second quarter. Innova Wealth Partners now owns 502 shares of the credit services provider's stock worth $282,000 after purchasing an additional 60 shares during the period. J.Safra Asset Management Corp grew its holdings in shares of Mastercard by 175.0% during the second quarter. J.Safra Asset Management Corp now owns 165 shares of the credit services provider's stock valued at $91,000 after buying an additional 105 shares during the last quarter. Courier Capital LLC grew its holdings in shares of Mastercard by 3.9% during the second quarter. Courier Capital LLC now owns 8,957 shares of the credit services provider's stock valued at $5,033,000 after buying an additional 338 shares during the last quarter. Sagespring Wealth Partners LLC grew its holdings in shares of Mastercard by 13.7% during the second quarter. Sagespring Wealth Partners LLC now owns 9,811 shares of the credit services provider's stock valued at $5,513,000 after buying an additional 1,183 shares during the last quarter. Finally, Equitable Trust Co. grew its holdings in shares of Mastercard by 0.7% during the second quarter. Equitable Trust Co. now owns 37,541 shares of the credit services provider's stock valued at $21,096,000 after buying an additional 261 shares during the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mastercard news, CFO J. Mehra Sachin sold 17,816 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total value of $10,456,032.24. Following the completion of the transaction, the chief financial officer owned 31,234 shares of the company's stock, valued at $18,330,922.26. The trade was a 36.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MA shares. KeyCorp lifted their price objective on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company boosted their price target on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a report on Friday, August 1st. Weiss Ratings restated a "buy (b)" rating on shares of Mastercard in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price target on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Mastercard has an average rating of "Buy" and an average price target of $634.04.

Mastercard Stock Performance

NYSE MA opened at $563.30 on Thursday. The company's 50 day moving average is $580.71 and its 200-day moving average is $563.06. The firm has a market cap of $509.23 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Mastercard Incorporated has a 12-month low of $465.59 and a 12-month high of $601.77. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41.

Mastercard (NYSE:MA - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating the consensus estimate of $4.05 by $0.10. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The company had revenue of $8.13 billion during the quarter, compared to analysts' expectations of $7.95 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. Mastercard's revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, October 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard's payout ratio is currently 20.50%.

Mastercard Company 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.

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