Visa Inc. (NYSE:V) Stake Boosted by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Visa Inc. by 5.1%, making it their 5th largest holding, valued at approximately $62 million.
• Visa reported earnings per share (EPS) of $2.98 for the latest quarter, surpassing analysts' expectations of $2.85, with a net margin of 52.16% and a revenue increase of 14.3% year-over-year.
• The company declared a quarterly dividend of $0.59, representing a 0.7% yield, with a low dividend payout ratio of 23.05%.

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,940 shares of the credit-card processor's stock after buying an additional 8,520 shares during the quarter. Visa accounts for about 2.2% of Tokio Marine Asset Management Co. Ltd.'s investment portfolio, making the stock its 5th largest holding. Tokio Marine Asset Management Co. Ltd.'s holdings in Visa were worth $62,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in V. Brighton Jones LLC lifted its stake in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Cohen & Steers Inc. lifted its stake in Visa by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 1,635 shares of the credit-card processor's stock worth $517,000 after purchasing an additional 83 shares during the last quarter. Guggenheim Capital LLC lifted its stake in Visa by 5.0% in the fourth quarter. Guggenheim Capital LLC now owns 262,634 shares of the credit-card processor's stock valued at $83,003,000 after buying an additional 12,459 shares during the last quarter. Finally, AGP Franklin LLC bought a new stake in Visa in the fourth quarter valued at $2,657,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

NYSE:V traded up $5.92 during mid-day trading on Wednesday, reaching $342.66. 5,692,001 shares of the stock were exchanged, compared to its average volume of 6,341,925. The business has a fifty day moving average price of $351.11 and a 200 day moving average price of $347.19. The firm has a market capitalization of $628.02 billion, a PE ratio of 33.46, a PEG ratio of 2.24 and a beta of 0.94. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.42 earnings per share. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.