Corebridge Financial Inc. Sells 11,110 Shares of Mastercard Incorporated $MA

Key Points

• Corebridge Financial Inc. reduced its stake in Mastercard by 4.8%, now holding 221,308 shares valued at approximately $121.3 million.
• Mastercard's recent quarterly earnings exceeded expectations, with an earnings per share (EPS) of $4.15, compared to a forecast of $4.05, and a year-over-year revenue increase of 16.8% to $8.13 billion.
• The company has a market capitalization of $540.73 billion and boasts a strong net margin of 44.93% and return on equity of 200.01%.

Corebridge Financial Inc. trimmed its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 221,308 shares of the credit services provider's stock after selling 11,110 shares during the period. Mastercard accounts for 0.7% of Corebridge Financial Inc.'s portfolio, making the stock its 17th biggest position. Corebridge Financial Inc.'s holdings in Mastercard were worth $121,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new stake in shares of Mastercard during the first quarter worth $31,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Mastercard during the fourth quarter worth $31,000. 10Elms LLP acquired a new stake in shares of Mastercard during the fourth quarter worth $33,000. Hughes Financial Services LLC acquired a new stake in shares of Mastercard during the first quarter worth $34,000. Finally, Navigoe LLC acquired a new stake in shares of Mastercard during the fourth quarter worth $33,000. 97.28% of the stock is owned by institutional investors and hedge funds.

Mastercard Price Performance

Shares of NYSE:MA traded up $5.44 during trading hours on Friday, hitting $595.92. 2,111,125 shares of the company's stock traded hands, compared to its average volume of 2,572,874. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.16 and a current ratio of 1.16. Mastercard Incorporated has a 52 week low of $465.59 and a 52 week high of $601.77. The company has a market cap of $538.71 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.03. The company's fifty day simple moving average is $568.38 and its two-hundred day simple moving average is $556.69.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $7.95 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. The business's quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company 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 of this dividend was Wednesday, July 9th. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. Mastercard's dividend payout ratio is currently 20.50%.

Analyst Upgrades and Downgrades

MA has been the topic of a number of analyst reports. UBS Group increased their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Citigroup increased their price objective on shares of Mastercard from $650.00 to $652.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Wall Street Zen raised shares of Mastercard from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Mastercard in a report on Friday, June 6th. Finally, Macquarie dropped their price objective on shares of Mastercard from $645.00 to $610.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $617.93.

Insider Activity at Mastercard

In other Mastercard news, Director Julius Genachowski sold 312 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total transaction 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. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO J. Mehra Sachin sold 17,816 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the sale, the chief financial officer directly owned 31,234 shares of the company's stock, valued at $18,330,922.26. This represents a 36.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,269 shares of company stock valued at $30,634,699. Corporate insiders own 0.09% of the company's stock.

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.