Empire Life Investments Inc. Lowers Holdings in Mastercard Incorporated (NYSE:MA)

Key Points

• Empire Life Investments Inc. has reduced its stake in Mastercard by 19.9%, now holding 52,097 shares valued at approximately $28.56 million.
• Mastercard's most recent earnings report exceeded analysts' expectations, with earnings per share at $4.15 and revenue of $8.13 billion, marking a year-over-year revenue increase of 16.8%.
• In the latest analysis, Mastercard received multiple ratings from analysts, with the current consensus rating classified as "Moderate Buy" and a target price averaging around $615.33.

Empire Life Investments Inc. lowered its holdings in Mastercard Incorporated (NYSE:MA - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,097 shares of the credit services provider's stock after selling 12,926 shares during the period. Mastercard comprises 1.9% of Empire Life Investments Inc.'s holdings, making the stock its 15th largest position. Empire Life Investments Inc.'s holdings in Mastercard were worth $28,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whalerock Point Partners LLC lifted its position in shares of Mastercard by 1.3% during the 4th quarter. Whalerock Point Partners LLC now owns 14,678 shares of the credit services provider's stock valued at $7,729,000 after buying an additional 185 shares during the last quarter. Fortis Advisors LLC raised its stake in shares of Mastercard by 9.4% during the 1st quarter. Fortis Advisors LLC now owns 871 shares of the credit services provider's stock valued at $477,000 after purchasing an additional 75 shares during the period. Canandaigua National Trust Co of Florida raised its stake in shares of Mastercard by 36.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 693 shares of the credit services provider's stock valued at $380,000 after purchasing an additional 185 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Mastercard by 18.0% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,870 shares of the credit services provider's stock valued at $3,766,000 after purchasing an additional 1,047 shares during the period. Finally, Baldwin Investment Management LLC raised its stake in shares of Mastercard by 5.7% during the 4th quarter. Baldwin Investment Management LLC now owns 1,731 shares of the credit services provider's stock valued at $911,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 97.28% of the company's stock.

Insider Transactions at Mastercard

In other Mastercard news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $560.00, for a total transaction of $536,480.00. Following the completion of the sale, the insider owned 23,624 shares of the company's stock, valued at approximately $13,229,440. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Craig Vosburg sold 9,428 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $353.05, for a total value of $3,328,555.40. Following the sale, the insider directly owned 58,451 shares of the company's stock, valued at $20,636,125.55. This represents a 13.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,753 shares of company stock worth $20,351,084. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MA. Royal Bank Of Canada boosted their price objective on Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. The Goldman Sachs Group restated a "buy" rating on shares of Mastercard in a research note on Friday, August 1st. UBS Group upped their target price on Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Jefferies Financial Group restated a "buy" rating on shares of Mastercard in a research note on Friday, June 6th. Finally, Wells Fargo & Company upped their target price on Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Five equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $615.33.

Mastercard Stock Up 0.6%

Shares of Mastercard stock traded up $3.14 on Wednesday, reaching $569.18. The company's stock had a trading volume of 2,245,042 shares, compared to its average volume of 2,608,880. The company has a market capitalization of $518.93 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 2.32 and a beta of 1.03. The firm's fifty day simple moving average is $564.52 and its two-hundred day simple moving average is $552.56. Mastercard Incorporated has a 52 week low of $449.04 and a 52 week high of $594.71. 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 (NYSE:MA - Get Free Report) last issued its quarterly earnings data 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. Mastercard had a return on equity of 200.01% and a net margin of 44.93%. The company had revenue of $8.13 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. Mastercard's revenue was up 16.8% compared to the same quarter last year. Equities analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current year.

Mastercard Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Mastercard's payout ratio is presently 20.50%.

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.