The Manufacturers Life Insurance Company Lowers Stock Position in Mastercard Incorporated $MA

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Mastercard by 11.6% in Q1 2023, now holding 647,245 shares valued at approximately $354.77 million.
• Mastercard reported a Q2 EPS of $4.15, exceeding analysts' expectations, with a revenue of $8.13 billion, marking a 16.8% increase year-over-year.
• The company announced a quarterly dividend of $0.76, equating to an annual yield of 0.5%, with a payout ratio currently at 20.50%.

The Manufacturers Life Insurance Company reduced its stake in Mastercard Incorporated (NYSE:MA - Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 647,245 shares of the credit services provider's stock after selling 85,231 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Mastercard worth $354,765,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Magnetar Financial LLC bought a new stake in Mastercard in the 1st quarter valued at $8,733,000. Gordian Capital Singapore Pte Ltd lifted its position in Mastercard by 3.3% during the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 6,729 shares of the credit services provider's stock worth $3,641,000 after buying an additional 213 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Mastercard by 2.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,805,237 shares of the credit services provider's stock worth $2,633,847,000 after buying an additional 114,242 shares in the last quarter. WPG Advisers LLC bought a new stake in Mastercard during the 1st quarter worth about $212,000. Finally, State of Wyoming lifted its position in Mastercard by 10.0% during the 1st quarter. State of Wyoming now owns 6,488 shares of the credit services provider's stock worth $3,556,000 after buying an additional 592 shares in the last quarter. 97.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Raj Seshadri sold 1,100 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $546.77, for a total value of $601,447.00. Following the completion of the transaction, the insider directly owned 12,921 shares in the company, valued at approximately $7,064,815.17. This represents a 7.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julius Genachowski sold 312 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $4,833,004.23. This trade represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,269 shares of company stock valued at $30,634,699 in the last ninety days. 0.09% of the stock is owned by insiders.

Mastercard Trading Down 0.1%

NYSE MA traded down $0.31 during mid-day trading on Wednesday, reaching $591.57. 919,126 shares of the stock were exchanged, compared to its average volume of 2,779,686. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The stock has a 50 day simple moving average of $570.13 and a 200-day simple moving average of $557.03. The stock has a market cap of $534.78 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.44 and a beta of 0.99. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

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

Mastercard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were given 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 was Wednesday, July 9th. Mastercard's dividend payout ratio (DPR) is 20.50%.

Wall Street Analyst Weigh In

MA has been the topic of several analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Mastercard in a research report on Friday, June 6th. Morgan Stanley upped their target price on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wolfe Research set a $655.00 target price on shares of Mastercard in a report on Monday, June 23rd. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company increased their target price on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $623.03.

About Mastercard

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.