Kinsale Capital Group Inc. Purchases 4,032 Shares of Visa Inc. (NYSE:V)

Key Points

• Kinsale Capital Group Inc. has increased its holdings in Visa Inc. by 13.4%, now owning 34,117 shares valued at approximately $11.96 million, making Visa the fund's 6th largest holding.
• Visa's recent quarterly earnings report beat analysts' expectations, with an EPS of $2.76 and revenues of $9.59 billion, reflecting a 9.3% year-over-year growth.
• Wall Street analysts show strong support for Visa, with 23 buy ratings and an average price target of $375.52, indicating positive sentiment towards the stock's performance.

Kinsale Capital Group Inc. raised its stake in Visa Inc. (NYSE:V - Free Report) by 13.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,117 shares of the credit-card processor's stock after purchasing an additional 4,032 shares during the quarter. Visa accounts for 2.9% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 6th biggest holding. Kinsale Capital Group Inc.'s holdings in Visa were worth $11,957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. von Borstel & Associates Inc. acquired a new position in Visa during the first quarter worth $27,000. Measured Risk Portfolios Inc. acquired a new position in Visa during the fourth quarter worth $47,000. O Brien Wealth Partners LLC acquired a new position in Visa during the first quarter worth $54,000. Global X Japan Co. Ltd. acquired a new position in Visa during the first quarter worth $56,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Visa by 28.5% during the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock worth $59,000 after purchasing an additional 37 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Down 0.4%

V stock traded down $1.58 during trading on Monday, reaching $355.46. 3,918,997 shares of the stock traded hands, compared to its average volume of 5,270,063. The business's 50 day moving average price is $356.06 and its 200-day moving average price is $345.79. The firm has a market capitalization of $655.88 billion, a PE ratio of 35.72, a P/E/G ratio of 2.41 and a beta of 0.92. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.51 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Macquarie cut their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa Company Profile

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.