Kinsale Capital Group Inc. Buys 3,936 Shares of Visa Inc. (NYSE:V)

Kinsale Capital Group Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 17.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,801 shares of the credit-card processor’s stock after acquiring an additional 3,936 shares during the period. Visa makes up approximately 2.2% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 12th largest holding. Kinsale Capital Group Inc.’s holdings in Visa were worth $7,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Unionview LLC lifted its stake in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after acquiring an additional 33 shares during the last quarter. KMG Fiduciary Partners LLC raised its position in Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in Visa by 15.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares during the last quarter. Washington Trust Bank raised its position in shares of Visa by 1.1% in the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after acquiring an additional 37 shares in the last quarter. Finally, Proffitt & Goodson Inc. lifted its stake in shares of Visa by 20.3% in the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after purchasing an additional 37 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on V. Robert W. Baird increased their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley raised their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Finally, BMO Capital Markets raised their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Up 0.5 %

Shares of V stock traded up $1.39 during mid-day trading on Friday, hitting $309.64. The stock had a trading volume of 5,106,284 shares, compared to its average volume of 5,762,525. Visa Inc. has a 12-month low of $245.60 and a 12-month high of $312.44. The firm has a market capitalization of $564.26 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The firm’s 50-day moving average is $287.04 and its two-hundred day moving average is $275.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 EPS. On average, analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Visa 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.