Prudential PLC Has $74.08 Million Position in Mastercard Incorporated (NYSE:MA)

Key Points

• Prudential PLC increased its stake in Mastercard by 12.0% during the 1st quarter, holding 135,144 shares valued at $74,075,000, making it the firm's 20th biggest holding.
• Analysts have shown optimism for Mastercard, with UBS Group raising its target price from $660.00 to $670.00 and highlighting a consensus of 25 buy ratings compared to 5 hold ratings.
• Mastercard's recent performance showed a 16.8% year-over-year revenue increase with earnings per share of $4.15, surpassing analyst expectations of $4.05.

Prudential PLC grew its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,144 shares of the credit services provider's stock after buying an additional 14,467 shares during the period. Mastercard comprises 0.4% of Prudential PLC's portfolio, making the stock its 20th largest position. Prudential PLC's holdings in Mastercard were worth $74,075,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MA. Brighton Jones LLC raised its position in shares of Mastercard by 42.3% during the 4th quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after purchasing an additional 2,028 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of 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 worth $37,108,000 after purchasing an additional 7,452 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Mastercard during the 4th quarter worth approximately $73,000. Trustco Bank Corp N Y acquired a new stake in Mastercard in the 4th quarter valued at approximately $211,000. Finally, Trustmark National Bank Trust Department increased its position in Mastercard by 50.5% in the 4th quarter. Trustmark National Bank Trust Department now owns 948 shares of the credit services provider's stock valued at $499,000 after acquiring an additional 318 shares during the period. Institutional investors and hedge funds own 97.28% of the company's stock.

Mastercard Stock Up 1.1%

Shares of Mastercard stock traded up $6.24 during midday trading on Thursday, hitting $584.14. The company's stock had a trading volume of 2,642,031 shares, compared to its average volume of 2,821,715. The firm has a market capitalization of $528.07 billion, a P/E ratio of 39.39, a PEG ratio of 2.36 and a beta of 1.03. The stock has a 50-day simple moving average of $563.47 and a 200-day simple moving average of $554.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 1-year low of $461.90 and a 1-year high of $594.71.

Mastercard (NYSE:MA - Get Free Report) last issued its earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, topping the consensus estimate 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%. Mastercard's revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.50 earnings per share. As a group, sell-side analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were paid a $0.76 dividend. 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 20.50%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen upgraded Mastercard from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Wolfe Research set a $655.00 target price on Mastercard in a research report on Monday, June 23rd. Citigroup raised their target price on Mastercard from $650.00 to $652.00 and gave the company a "buy" rating in a research report on Monday, May 5th. KeyCorp raised their target price on Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Macquarie decreased their price target on Mastercard from $645.00 to $610.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $615.33.

Insider Buying and Selling at Mastercard

In other news, insider Craig Vosburg sold 9,428 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $353.05, for a total transaction of $3,328,555.40. Following the transaction, the insider owned 58,451 shares of the company's stock, valued at approximately $20,636,125.55. This represents a 13.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the transaction, the insider directly owned 23,624 shares in the company, valued at approximately $13,229,440. This represents a 3.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,453 shares of company stock valued at $20,178,667 over the last three months. 0.09% of the stock is owned by insiders.

Mastercard 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.