Hartford Investment Management Co. Reduces Holdings in Mastercard Incorporated (NYSE:MA)

Hartford Investment Management Co. lessened its holdings in Mastercard Incorporated (NYSE:MA) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,879 shares of the credit services provider’s stock after selling 688 shares during the period. Mastercard accounts for approximately 0.8% of Hartford Investment Management Co.’s portfolio, making the stock its 17th largest holding. Hartford Investment Management Co.’s holdings in Mastercard were worth $25,618,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Mastercard by 0.4% during the first quarter. Vanguard Group Inc. now owns 75,584,606 shares of the credit services provider’s stock worth $36,399,279,000 after buying an additional 330,872 shares in the last quarter. Capital Research Global Investors lifted its position in Mastercard by 0.3% during the first quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock worth $6,574,347,000 after buying an additional 43,881 shares during the period. Ameriprise Financial Inc. boosted its stake in Mastercard by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock worth $2,241,297,000 after buying an additional 71,569 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Mastercard by 2.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock valued at $1,908,973,000 after buying an additional 113,238 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Mastercard by 0.9% during the 2nd quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after acquiring an additional 38,380 shares during the last quarter. 97.28% of the stock is owned by hedge funds and other institutional investors.

Mastercard Stock Performance

MA stock traded up $0.14 on Wednesday, reaching $513.16. The company’s stock had a trading volume of 67,629 shares, compared to its average volume of 2,427,340. Mastercard Incorporated has a 52 week low of $359.77 and a 52 week high of $518.82. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $477.04 billion, a P/E ratio of 40.78, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The firm has a fifty day moving average of $489.16 and a two-hundred day moving average of $464.58.

Mastercard (NYSE:MA) last released its quarterly earnings results on Wednesday, July 31st. The credit services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.08. Mastercard had a return on equity of 179.78% and a net margin of 46.45%. The company had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.85 billion. As a group, analysts predict that Mastercard Incorporated will post 14.3 EPS for the current fiscal year.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Wednesday, October 9th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, October 9th. Mastercard’s dividend payout ratio is currently 20.99%.

Insider Activity at Mastercard

In other Mastercard news, major shareholder Foundation Mastercard sold 119,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $468.46, for a total transaction of $55,746,740.00. Following the completion of the transaction, the insider now directly owns 92,033,308 shares of the company’s stock, valued at approximately $43,113,923,465.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Foundation Mastercard sold 119,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $468.46, for a total value of $55,746,740.00. Following the sale, the insider now directly owns 92,033,308 shares in the company, valued at $43,113,923,465.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Venkata R. Madabhushi sold 4,685 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the sale, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at $7,363,085.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 340,809 shares of company stock worth $159,610,703 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MA shares. BNP Paribas downgraded shares of Mastercard from an “outperform” rating to a “neutral” rating and set a $470.00 target price for the company. in a report on Tuesday, September 3rd. Barclays lifted their price target on shares of Mastercard from $536.00 to $576.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America raised their target price on shares of Mastercard from $480.00 to $509.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Robert W. Baird upped their price target on shares of Mastercard from $545.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada raised their price target on shares of Mastercard from $500.00 to $526.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $525.68.

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.