PNC Financial Services Group Inc. Cuts Position in Mastercard Incorporated (NYSE:MA)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Mastercard by 0.9%, holding 840,095 shares valued at approximately $460 million as of the latest SEC filing.
• Mastercard reported $4.15 earnings per share in its latest quarterly earnings, beating expectations by $0.10, with revenues of $8.13 billion.
• The company has announced a quarterly dividend of $0.76 per share, with a payout ratio of 21.32%, to be distributed on August 8th.

PNC Financial Services Group Inc. cut its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 840,095 shares of the credit services provider's stock after selling 7,553 shares during the period. PNC Financial Services Group Inc. owned 0.09% of Mastercard worth $460,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new stake in Mastercard during the fourth quarter worth about $31,000. Navigoe LLC purchased a new position in Mastercard during the 4th quarter valued at $33,000. 10Elms LLP bought a new stake in shares of Mastercard during the 4th quarter valued at $33,000. Hughes Financial Services LLC bought a new position in Mastercard in the 1st quarter worth about $34,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Mastercard during the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 97.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MA. Morgan Stanley raised their target price on shares of Mastercard from $639.00 to $661.00 and gave the stock an "overweight" rating in a research note on Friday. Wall Street Zen raised shares of Mastercard from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Macquarie cut 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. 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 research report on Friday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mastercard in a research report on Thursday, July 17th. They set a "buy" rating and a $650.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Mastercard has an average rating of "Moderate Buy" and an average target price of $615.33.

Mastercard Trading Up 1.8%

Shares of NYSE MA traded up $9.84 on Monday, reaching $569.73. 2,984,635 shares of the company traded hands, compared to its average volume of 2,593,600. 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 Incorporated has a fifty-two week low of $439.59 and a fifty-two week high of $594.71. The company has a 50 day moving average of $564.58 and a 200 day moving average of $552.15. The stock has a market capitalization of $519.43 billion, a PE ratio of 38.42, a P/E/G ratio of 2.41 and a beta of 1.03.

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

Mastercard Dividend Announcement

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

Insider Buying and Selling

In other news, insider Linda Pistecchia Kirkpatrick sold 958 shares of Mastercard stock in a transaction on Monday, June 30th. The stock was sold at an average price of $560.00, for a total value of $536,480.00. Following the transaction, the insider owned 23,624 shares in the company, valued at approximately $13,229,440. This trade represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Raj Seshadri sold 1,100 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $546.77, for a total value of $601,447.00. Following the sale, the insider directly owned 12,921 shares in the company, valued at approximately $7,064,815.17. This trade represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,753 shares of company stock worth $20,351,084. Company insiders own 0.09% of the company's stock.

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.