Manning & Napier Advisors LLC Decreases Stock Position in Mastercard Incorporated (NYSE:MA)

Manning & Napier Advisors LLC decreased its holdings in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,496 shares of the credit services provider's stock after selling 106,272 shares during the quarter. Mastercard accounts for approximately 3.0% of Manning & Napier Advisors LLC's holdings, making the stock its 3rd biggest position. Manning & Napier Advisors LLC's holdings in Mastercard were worth $241,993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Mastercard in the fourth quarter valued at about $6,022,224,000. GAMMA Investing LLC grew its stake in Mastercard by 65,631.5% in the first quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider's stock valued at $4,508,636,000 after purchasing an additional 8,213,123 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Mastercard in the fourth quarter valued at about $837,017,000. Proficio Capital Partners LLC grew its stake in Mastercard by 79,739.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,555,277 shares of the credit services provider's stock valued at $818,962,000 after purchasing an additional 1,553,329 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Mastercard by 15.2% in the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider's stock valued at $4,817,684,000 after purchasing an additional 1,207,787 shares in the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Analysts Set New Price Targets

MA has been the topic of a number of recent research reports. Wall Street Zen downgraded Mastercard from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Tigress Financial reiterated a "strong-buy" rating on shares of Mastercard in a research note on Monday, March 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. The Goldman Sachs Group reiterated a "buy" rating and set a $633.00 price target on shares of Mastercard in a research note on Wednesday, April 2nd. Finally, Truist Financial started coverage on Mastercard in a research note on Monday, June 2nd. They set a "buy" rating and a $640.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $610.00.

Insider Activity

In related news, CEO Michael Miebach sold 15,775 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $550.16, for a total transaction of $8,678,774.00. Following the sale, the chief executive officer now directly owns 84,871 shares in the company, valued at $46,692,629.36. This represents a 15.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sandra A. Arkell sold 150 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $580.00, for a total value of $87,000.00. Following the sale, the insider now owns 3,255 shares in the company, valued at approximately $1,887,900. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,890 shares of company stock worth $27,003,492. Company insiders own 0.09% of the company's stock.

Mastercard Stock Performance

Mastercard stock traded up $9.66 during trading hours on Monday, hitting $542.63. The stock had a trading volume of 3,679,647 shares, compared to its average volume of 2,650,777. The company has a 50-day moving average of $559.72 and a two-hundred day moving average of $544.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.81. The company has a market cap of $494.72 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05. Mastercard Incorporated has a fifty-two week low of $428.86 and a fifty-two week high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion during the quarter, compared to analysts' expectations of $7.12 billion. Mastercard had a return on equity of 196.87% and a net margin of 45.21%. The company's revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.31 EPS. On average, equities research analysts anticipate that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

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.