AEGON ASSET MANAGEMENT UK Plc Sells 28,199 Shares of Visa Inc. $V

Key Points

• AEGON ASSET MANAGEMENT UK Plc reduced its Visa holdings by 9.5% in the second quarter, selling 28,199 shares, resulting in ownership of 268,552 shares valued at approximately $95.3 million.
• Visa's recent quarterly earnings showed a net margin of 52.16% and revenue of $10.17 billion, exceeding analyst estimates and reflecting a 14.3% year-over-year growth.
• Visa also announced a quarterly dividend of $0.59 per share, reflecting a 0.7% dividend yield with a payout ratio of 23.05%.

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 9.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,552 shares of the credit-card processor's stock after selling 28,199 shares during the period. Visa comprises approximately 1.2% of AEGON ASSET MANAGEMENT UK Plc's investment portfolio, making the stock its 17th biggest holding. AEGON ASSET MANAGEMENT UK Plc's holdings in Visa were worth $95,263,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Northern Trust Corp increased its position in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after purchasing an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after purchasing an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

NYSE:V opened at $341.90 on Friday. Visa Inc. has a one year low of $280.78 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.02 and a beta of 0.90. The firm's fifty day moving average is $344.30 and its two-hundred day moving average is $346.83.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. Research analysts expect 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 Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on V. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, Barclays restated an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $389.00.

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.

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