Citizens Financial Group Inc. RI Increases Position in Visa Inc. (NYSE:V)

Citizens Financial Group Inc. RI increased its stake in shares of Visa Inc. (NYSE:V) by 28.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,691 shares of the credit-card processor’s stock after buying an additional 20,657 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Visa were worth $24,328,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brio Consultants LLC raised its holdings in Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after purchasing an additional 437 shares in the last quarter. Gilbert & Cook Inc. increased its position in Visa by 2.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after purchasing an additional 158 shares during the period. Aveo Capital Partners LLC raised its stake in shares of Visa by 9.2% during the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after buying an additional 235 shares in the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Visa by 20.8% in the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after buying an additional 1,387 shares during the period. Finally, Gryphon Financial Partners LLC boosted its stake in shares of Visa by 53.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after buying an additional 4,774 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several research analyst reports. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group reduced their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $309.81.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.7 %

Shares of V opened at $287.35 on Monday. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The stock’s 50-day moving average is $268.29 and its two-hundred day moving average is $273.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $523.64 billion, a PE ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa Company Profile

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.