Russell Investments Group Ltd. Buys 72,849 Shares of Visa Inc. $V

Key Points

• Russell Investments increased its Visa stake by 3.4%, buying 72,849 shares in the third quarter. It now holds 2,232,094 shares, worth about $803 million.
• Visa beat quarterly earnings and revenue estimates, reporting EPS of $3.48 and revenue of $12.14 billion; revenue rose 13.2% year over year.
• Visa raised its quarterly dividend from $0.67 to $0.78 per share, equivalent to $3.12 annually and a 0.7% yield. Analysts’ consensus rating was “Buy,” with an average price target of $443.35.

Russell Investments Group Ltd. grew its stake in Visa Inc. (NYSE:V - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,232,094 shares of the credit-card processor's stock after buying an additional 72,849 shares during the period. Visa accounts for about 0.7% of Russell Investments Group Ltd.'s holdings, making the stock its 15th biggest holding. Russell Investments Group Ltd. owned 0.13% of Visa worth $803,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. XXEC Inc. lifted its stake in shares of Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor's stock worth $63,904,097,000 after acquiring an additional 186,138,883 shares during the period. State Street Corp increased its position in Visa by 0.7% during the 2nd quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor's stock valued at $28,432,626,000 after purchasing an additional 566,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Visa by 13.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor's stock valued at $5,393,398,000 after purchasing an additional 1,808,496 shares during the period. Dimensional Fund Advisors LP increased its position in Visa by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor's stock valued at $2,672,655,000 after purchasing an additional 316,559 shares during the period. Finally, Amundi increased its position in Visa by 16.5% during the 2nd quarter. Amundi now owns 7,714,919 shares of the credit-card processor's stock valued at $2,646,911,000 after purchasing an additional 1,092,315 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 1.2%

NYSE V opened at $420.26 on Friday. The stock has a market capitalization of $749.92 billion, a P/E ratio of 34.08, a P/E/G ratio of 1.81 and a beta of 0.80. The business has a 50 day simple moving average of $389.44 and a 200 day simple moving average of $346.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.97. Visa Inc. has a one year low of $293.89 and a one year high of $442.23.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.98 earnings per share. Research analysts expect that Visa Inc. will post 15.02 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 annualized dividend and a dividend yield of 0.7%. This is an increase from Visa's previous quarterly dividend of $0.67. Visa's dividend payout ratio (DPR) is presently 25.30%.

Latest Visa News

These are some of the V news items that stood out recently:

• Positive Sentiment: Visa is extending everyday payment use cases: AviaGames players can receive eligible game payouts directly to Visa cards, while an Octopus partnership expands Visa QR-payment acceptance at merchants across Hong Kong. These integrations could support transaction activity and Visa’s reach. AviaGames payout collaboration Visa and Octopus expand QR payments
• Positive Sentiment: Analyst coverage remains supportive: Bernstein maintained an Outperform rating and raised its price target to $486, while Citigroup reportedly raised its target to $490 and kept a Buy rating. Bernstein analyst recommendations
• Neutral Sentiment: Visa executives Paul Fabara and Julie Rottenberg recently sold shares, but both transactions were under pre-arranged Rule 10b5-1 plans, and each retained a substantial holding. The planned nature of the sales makes them a less direct signal of near-term expectations. Paul Fabara SEC filing

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Visa from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $450.00 to $455.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 28th. Evercore set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 28th. The Goldman Sachs Group lifted their target price on shares of Visa from $420.00 to $438.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Finally, Mizuho set a $440.00 target price on shares of Visa in a report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of "Buy" and an average target price of $443.35.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 1,867 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $423.00, for a total transaction of $789,741.00. Following the transaction, the general counsel directly owned 18,404 shares of the company's stock, valued at $7,784,892. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at $6,315,722.28. The trade was a 27.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,663 shares of company stock worth $12,634,720 in the last quarter. 0.12% of the stock is owned by corporate insiders.

About Visa

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company's services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.

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