Kinsale Capital Group Inc. Buys New Position in Visa Inc. (NYSE:V)

Kinsale Capital Group Inc. bought a new stake in shares of Visa Inc. (NYSE:V – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,946 shares of the credit-card processor’s stock, valued at approximately $404,000. Visa accounts for approximately 0.4% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Cottage Street Advisors LLC lifted its position in shares of Visa by 15,603.1% in the 4th quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock worth $998,000 after acquiring an additional 3,136,223 shares during the period. Alliancebernstein L.P. lifted its position in shares of Visa by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after acquiring an additional 1,785,695 shares during the period. Nordea Investment Management AB lifted its position in shares of Visa by 25.4% in the 4th quarter. Nordea Investment Management AB now owns 5,785,854 shares of the credit-card processor’s stock worth $1,195,705,000 after acquiring an additional 1,173,585 shares during the period. Renaissance Technologies LLC lifted its position in shares of Visa by 283.1% in the 3rd quarter. Renaissance Technologies LLC now owns 1,555,600 shares of the credit-card processor’s stock worth $276,352,000 after acquiring an additional 1,149,500 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Visa by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock worth $25,801,337,000 after acquiring an additional 912,545 shares during the period. Institutional investors own 81.87% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the transaction, the chairman now directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of Visa stock in a transaction on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the sale, the chairman now directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction on Friday, April 28th. The stock was sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the sale, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The disclosure for this sale can be found here. Insiders sold a total of 174,277 shares of company stock valued at $40,009,794 in the last three months. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

V has been the subject of a number of recent research reports. Truist Financial increased their target price on Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. Robert W. Baird increased their target price on Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. Raymond James increased their target price on Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. KeyCorp raised their price target on Visa from $250.00 to $260.00 in a report on Monday, April 24th. Finally, BMO Capital Markets raised their price target on Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $260.08.

Visa Stock Performance

Shares of V stock traded up $2.05 during trading hours on Friday, hitting $225.43. 2,741,800 shares of the company were exchanged, compared to its average volume of 6,017,896. The firm has a fifty day simple moving average of $228.15 and a 200 day simple moving average of $220.65. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $235.57. The stock has a market capitalization of $422.30 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 1.70 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. Visa had a net margin of 50.95% and a return on equity of 50.21%. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.79 billion. During the same period in the previous year, the business earned $1.79 EPS. Visa’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 8.58 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, May 11th. Visa’s payout ratio is 24.06%.

Visa Profile

(Get Rating)

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).