OLD National Bancorp IN Purchases 8,471 Shares of Mastercard Incorporated $MA

Key Points

• OLD National Bancorp IN increased its holdings in Mastercard by 77.9% in Q2, now owning 19,340 shares worth approximately $10.87 million after acquiring an additional 8,471 shares.
• Mastercard recently announced a quarterly dividend of $0.76 per share, with a payout ratio of 20.5%, and the dividend will be paid on November 7th.
• Several analysts have raised their price targets on Mastercard, with KeyCorp setting a new target of $660.00, indicating strong investor confidence.

OLD National Bancorp IN lifted its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 77.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,340 shares of the credit services provider's stock after purchasing an additional 8,471 shares during the period. OLD National Bancorp IN's holdings in Mastercard were worth $10,868,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Mastercard by 0.5% in the first quarter. Vanguard Group Inc. now owns 77,544,675 shares of the credit services provider's stock worth $42,503,787,000 after acquiring an additional 365,537 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Mastercard in the second quarter worth about $11,421,213,000. Price T Rowe Associates Inc. MD raised its position in Mastercard by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,096,979 shares of the credit services provider's stock worth $11,015,557,000 after acquiring an additional 907,184 shares during the period. Wellington Management Group LLP raised its position in Mastercard by 38.6% in the first quarter. Wellington Management Group LLP now owns 13,526,118 shares of the credit services provider's stock worth $7,413,936,000 after acquiring an additional 3,765,378 shares during the period. Finally, Nuveen LLC bought a new stake in Mastercard in the first quarter worth about $4,238,764,000. Institutional investors own 97.28% of the company's stock.

Insider Buying and Selling

In other news, Director Julius Genachowski sold 312 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the sale, the director directly owned 8,469 shares in the company, valued at approximately $4,833,004.23. The trade was a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO J. Mehra Sachin sold 17,263 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company's stock, valued at approximately $18,459,294. The trade was a 35.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,391 shares of company stock valued at $20,836,514. Company insiders own 0.09% of the company's stock.

Mastercard Trading Up 0.6%

Shares of MA opened at $581.08 on Friday. The firm has a market cap of $525.30 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 2.38 and a beta of 0.97. 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 fifty-two week low of $465.59 and a fifty-two week high of $601.77. The firm has a 50 day moving average price of $580.26 and a 200-day moving average price of $561.85.

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

Mastercard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, October 9th. Mastercard's payout ratio is presently 20.50%.

Analyst Ratings Changes

Several analysts have recently issued reports on MA shares. KeyCorp boosted their price target on shares of Mastercard from $635.00 to $660.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their price target on shares of Mastercard from $650.00 to $656.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their price target on shares of Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. TD Cowen reissued a "buy" rating and issued a $645.00 price target on shares of Mastercard in a research report on Monday, August 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Mastercard in a research report on Thursday, July 17th. They issued a "buy" rating and a $650.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mastercard presently has an average rating of "Buy" and an average target price of $630.89.

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.

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