Allstate Corp Grows Stock Position in Mastercard Incorporated $MA

Key Points

• Allstate Corp increased its position in Mastercard by 18.1%, holding a total of 28,881 shares worth approximately $15.83 million after purchasing an additional 4,433 shares.
• Mastercard recently announced a quarterly dividend of $0.76 per share, with a yield of 0.5% and a payout ratio of 20.50%.
• The company reported $4.15 earnings per share for the last quarter, beating estimates, and its revenue increased by 16.8% year-over-year, reaching $8.13 billion.

Allstate Corp lifted its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 18.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,881 shares of the credit services provider's stock after acquiring an additional 4,433 shares during the period. Allstate Corp's holdings in Mastercard were worth $15,830,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MA. Brighton Jones LLC boosted its holdings in shares of Mastercard by 42.3% in the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after acquiring an additional 2,028 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Mastercard by 11.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock worth $37,108,000 after acquiring an additional 7,452 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Mastercard during the fourth quarter valued at $73,000. Trustco Bank Corp N Y bought a new stake in Mastercard during the fourth quarter valued at $211,000. Finally, Coppell Advisory Solutions LLC boosted its stake in Mastercard by 224.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 458 shares of the credit services provider's stock valued at $241,000 after buying an additional 317 shares during the period. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MA shares. Wall Street Zen raised Mastercard from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. KeyCorp lifted their price objective on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Citigroup lifted their price objective on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Macquarie dropped their price objective on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Truist Financial dropped their price objective on Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $617.93.

Mastercard Price Performance

NYSE MA traded down $0.33 during trading hours on Tuesday, reaching $592.88. 4,747,667 shares of the stock traded hands, compared to its average volume of 2,810,536. The stock has a 50 day simple moving average of $564.53 and a two-hundred day simple moving average of $555.80. Mastercard Incorporated has a 1 year low of $465.59 and a 1 year high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $535.97 billion, a price-to-earnings ratio of 39.98, a price-to-earnings-growth ratio of 2.46 and a beta of 1.03.

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

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Wednesday, July 9th were issued a $0.76 dividend. The ex-dividend date was Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's payout ratio is currently 20.50%.

Insider Transactions at Mastercard

In other news, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the transaction, the insider owned 12,921 shares in the company, valued at approximately $7,064,815.17. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Craig Vosburg sold 14,051 shares of Mastercard stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the transaction, the insider owned 58,451 shares in the company, valued at approximately $34,196,757.55. This represents a 19.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,269 shares of company stock valued at $30,634,699. 0.09% of the stock is currently owned by corporate insiders.

About Mastercard

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.