Corebridge Financial Inc. Sells 522 Shares of Mastercard Incorporated (NYSE:MA)

Corebridge Financial Inc. lowered its holdings in shares of Mastercard Incorporated (NYSE:MA) by 0.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 232,418 shares of the credit services provider’s stock after selling 522 shares during the period. Mastercard makes up about 0.7% of Corebridge Financial Inc.’s holdings, making the stock its 16th biggest holding. Corebridge Financial Inc.’s holdings in Mastercard were worth $122,384,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Swedbank AB lifted its position in shares of Mastercard by 14.8% in the 3rd quarter. Swedbank AB now owns 1,874,568 shares of the credit services provider’s stock worth $925,662,000 after purchasing an additional 241,297 shares during the period. Principal Financial Group Inc. raised its stake in Mastercard by 4.8% during the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock worth $1,497,160,000 after buying an additional 138,842 shares during the last quarter. Great Valley Advisor Group Inc. lifted its holdings in Mastercard by 14.5% in the third quarter. Great Valley Advisor Group Inc. now owns 2,978 shares of the credit services provider’s stock valued at $1,470,000 after buying an additional 376 shares during the period. Algert Global LLC bought a new stake in Mastercard during the third quarter valued at $1,540,000. Finally, Family Capital Management Inc. grew its holdings in Mastercard by 5.7% during the 3rd quarter. Family Capital Management Inc. now owns 858 shares of the credit services provider’s stock worth $424,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Activity at Mastercard

In other Mastercard news, insider Edward Grunde Mclaughlin sold 7,132 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $534.68, for a total value of $3,813,337.76. Following the transaction, the insider now directly owns 34,524 shares in the company, valued at $18,459,292.32. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by company insiders.

Mastercard Trading Down 0.2 %

NYSE:MA opened at $535.14 on Monday. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $582.23. The firm has a 50-day moving average price of $547.55 and a two-hundred day moving average price of $524.95. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $487.89 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. On average, equities analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard announced that its board has approved a share repurchase program on Tuesday, December 17th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Mastercard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, April 9th. Mastercard’s dividend payout ratio (DPR) is currently 21.89%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MA shares. Wells Fargo & Company boosted their price objective on Mastercard from $585.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Royal Bank of Canada boosted their price target on Mastercard from $572.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. KeyCorp raised their price objective on shares of Mastercard from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Susquehanna boosted their target price on shares of Mastercard from $605.00 to $670.00 and gave the company a “positive” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Mastercard from $590.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $606.11.

Mastercard 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.