OMERS ADMINISTRATION Corp Purchases 34,024 Shares of Visa Inc. $V

Key Points

• OMERS Administration Corp increased its Visa stake by 32.1% in the second quarter, purchasing 34,024 additional shares and bringing its holdings to 140,163 shares valued at approximately $48.1 million. Institutional investors collectively own 82.15% of Visa.
• Visa reported quarterly earnings of $3.32 per share on $11.63 billion in revenue, exceeding analyst expectations, while revenue grew 14.4% year over year. The company also authorized a $20 billion share-repurchase program.
• Analysts maintain a favorable outlook, with Visa holding a consensus “Buy” rating and an average price target of $413.58. Meanwhile, insiders sold approximately $32.4 million of company stock over the past three months, and Visa declared a quarterly dividend of $0.67 per share.

OMERS ADMINISTRATION Corp lifted its position in Visa Inc. (NYSE:V - Free Report) by 32.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,163 shares of the credit-card processor's stock after purchasing an additional 34,024 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Visa were worth $48,089,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. XXEC Inc. lifted its position in Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor's stock worth $63,904,097,000 after buying an additional 186,138,883 shares during the last quarter. Norges Bank bought a new position in Visa during the fourth quarter valued at approximately $5,877,738,000. Cardano Risk Management B.V. grew its position in Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor's stock valued at $2,880,595,000 after acquiring an additional 7,364,762 shares during the last quarter. Diamant Asset Management Inc. grew its position in Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor's stock valued at $2,216,310,000 after acquiring an additional 7,308,345 shares during the last quarter. Finally, J. Stern & Co. LLP raised its stake in shares of Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor's stock worth $1,184,712,000 after acquiring an additional 3,351,223 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider owned 49,662 shares in the company, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 90,759 shares of company stock worth $32,375,779. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on V. Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. UBS Group reaffirmed a "buy" rating and set a $420.00 target price (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $412.00 target price (up from $395.00) on shares of Visa in a research report on Wednesday, July 29th. Raymond James Financial reissued an "outperform" rating and issued a $406.00 price target on shares of Visa in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $430.00 price target on shares of Visa in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $413.58.

Visa Price Performance

V stock opened at $371.09 on Monday. The stock has a market capitalization of $662.18 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.99 and a beta of 0.74. The firm's 50-day moving average price is $353.73 and its two-hundred day moving average price is $329.61. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $373.97.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. Visa's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.98 earnings per share. As a group, equities analysts predict that Visa Inc. will post 13.16 earnings per share for the current year.

Visa announced that its board has approved a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 22.79%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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