Kinsale Capital Group Inc. Acquires 2,769 Shares of Visa Inc. $V

Kinsale Capital Group Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,201 shares of the credit-card processor’s stock after purchasing an additional 2,769 shares during the period. Visa comprises approximately 2.5% of Kinsale Capital Group Inc.’s holdings, making the stock its 8th biggest holding. Kinsale Capital Group Inc.’s holdings in Visa were worth $13,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new stake in Visa during the 2nd quarter worth about $29,000. Sagard Holdings Management Inc. acquired a new stake in shares of Visa during the 2nd quarter worth about $31,000. Bare Financial Services Inc grew its holdings in shares of Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Visa during the second quarter worth about $36,000. Finally, Quaker Wealth Management LLC raised its position in shares of Visa by 202.7% in the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. KeyCorp reiterated an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Daiwa America upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a research report on Thursday, December 11th. Finally, Daiwa Securities Group upgraded Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, February 2nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $392.29.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Visa Stock Up 0.8%

V opened at $331.82 on Friday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The firm has a 50 day moving average price of $338.50 and a 200 day moving average price of $340.87. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.08 and a current ratio of 1.11. The company has a market cap of $604.49 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.90 and a beta of 0.79.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the company posted $2.75 earnings per share. Visa’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is currently 25.14%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.