Zurich Insurance Group Ltd FI Sells 3,352 Shares of Mastercard Incorporated $MA

Key Points

• Zurich Insurance Group Ltd FI sold 3,352 shares of Mastercard, reducing its stake by 1.1%, leaving it with 296,828 shares valued at approximately $162.7 million.
• Analysts recently raised price targets for Mastercard, with UBS increasing their target from $660 to $670, while the stock has a consensus rating of "Moderate Buy" with an average price target of $626.54.
• The company reported $4.15 EPS for the last quarter, exceeding estimates by $0.10, and its quarterly revenue rose 16.8% year-over-year, amounting to $8.13 billion.

Zurich Insurance Group Ltd FI lowered its stake in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 296,828 shares of the credit services provider's stock after selling 3,352 shares during the period. Mastercard accounts for about 1.3% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 13th biggest holding. Zurich Insurance Group Ltd FI's holdings in Mastercard were worth $162,697,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MA. Brighton Jones LLC lifted its position in Mastercard by 42.3% during the fourth quarter. Brighton Jones LLC now owns 6,824 shares of the credit services provider's stock worth $3,594,000 after buying an additional 2,028 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Mastercard by 11.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 70,472 shares of the credit services provider's stock worth $37,108,000 after purchasing an additional 7,452 shares during the period. Mascagni Wealth Management Inc. purchased a new position in shares of Mastercard in the 4th quarter valued at about $73,000. Trustco Bank Corp N Y purchased a new position in shares of Mastercard during the fourth quarter worth about $211,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Mastercard in the 4th quarter valued at $3,992,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MA has been the subject of a number of analyst reports. Seaport Res Ptn raised Mastercard from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research report on Thursday, July 17th. They set a "buy" rating and a $650.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Mastercard from $625.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. UBS Group increased their target price on Mastercard from $660.00 to $670.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, KeyCorp increased their price target on Mastercard from $635.00 to $660.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $626.54.

Insider Buying and Selling at Mastercard

In related news, insider Raj Seshadri sold 1,100 shares of the stock in a transaction on 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 sale, the insider directly owned 12,921 shares in the company, valued at $7,064,815.17. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $570.67, for a total value of $178,049.04. Following the sale, the director directly owned 8,469 shares of the company's stock, valued at $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,481 shares of company stock worth $32,616,595 in the last ninety days. Insiders own 0.09% of the company's stock.

Mastercard Price Performance

Shares of NYSE:MA opened at $587.49 on Tuesday. The firm has a market capitalization of $531.10 billion, a PE ratio of 39.62, a PEG ratio of 2.40 and a beta of 0.99. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The business's 50 day moving average is $573.10 and its 200-day moving average is $557.69.

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

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Wednesday, July 9th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, July 9th. Mastercard's dividend payout ratio is 20.50%.

Mastercard Company 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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