Connor Clark & Lunn Investment Management Ltd. Purchases 53,258 Shares of Mastercard Incorporated (NYSE:MA)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its holdings in Mastercard, purchasing 53,258 shares and raising its position by 461.1% to a total of 64,807 shares valued at approximately $35.52 million.
• Overall, institutional investors own 97.28% of Mastercard's stock, indicating strong confidence from large financial entities in the company's performance.
• Mastercard has an average price target of $615.33 and has received numerous buy ratings from analysts, with recent earnings exceeding expectations by reporting $4.15 per share.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 461.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,807 shares of the credit services provider's stock after purchasing an additional 53,258 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Mastercard were worth $35,522,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock valued at $3,594,000 after acquiring an additional 2,028 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock valued at $37,108,000 after acquiring an additional 7,452 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Mastercard during the 4th quarter valued at about $73,000. Trustco Bank Corp N Y purchased a new stake in Mastercard during the 4th quarter valued at about $211,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in Mastercard by 6.3% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 663 shares of the credit services provider's stock valued at $349,000 after acquiring an additional 39 shares during the period. 97.28% of the stock is currently owned by institutional investors.

Mastercard Stock Up 0.1%

NYSE:MA traded up $0.29 during trading hours on Tuesday, reaching $573.88. 2,593,766 shares of the company traded hands, compared to its average volume of 2,583,637. The business's 50-day moving average price is $563.59 and its two-hundred day moving average price is $553.98. The stock has a market capitalization of $518.80 billion, a P/E ratio of 38.70, a P/E/G ratio of 2.36 and a beta of 1.03. Mastercard Incorporated has a 1 year low of $454.89 and a 1 year high of $594.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41.

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

Mastercard Announces Dividend

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

Insider Buying and Selling

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 959 shares of Mastercard stock in a transaction on Friday, June 13th. The stock was sold at an average price of $572.86, for a total value of $549,372.74. Following the completion of the sale, the insider owned 25,540 shares of the company's stock, valued at approximately $14,630,844.40. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julius Genachowski sold 312 shares of Mastercard stock in a transaction on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the sale, the director directly owned 8,469 shares of the company's stock, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,453 shares of company stock worth $20,178,667 over the last three months. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial dropped their target price on Mastercard from $640.00 to $612.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Morgan Stanley increased their target price on Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a report on Thursday, July 17th. They set a "buy" rating and a $650.00 target price for the company. Royal Bank Of Canada increased their target price on Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Macquarie dropped their price objective on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $615.33.

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.