Legal & General Group Plc boosted its position in shares of Mastercard Incorporated (NYSE:MA) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,707,931 shares of the credit services provider’s stock after acquiring an additional 99,402 shares during the period. Legal & General Group Plc owned 0.44% of Mastercard worth $664,700,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Boys Arnold & Co. Inc. raised its position in shares of Mastercard by 7.8% during the second quarter. Boys Arnold & Co. Inc. now owns 5,006 shares of the credit services provider’s stock valued at $608,000 after buying an additional 363 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Mastercard during the second quarter valued at about $2,351,000. Baldwin Investment Management LLC raised its position in shares of Mastercard by 5.9% during the second quarter. Baldwin Investment Management LLC now owns 3,600 shares of the credit services provider’s stock valued at $437,000 after buying an additional 200 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Mastercard during the second quarter valued at about $172,000. Finally, Royal Bank of Canada raised its position in shares of Mastercard by 1.2% during the second quarter. Royal Bank of Canada now owns 4,136,794 shares of the credit services provider’s stock valued at $502,413,000 after buying an additional 50,050 shares during the last quarter. 75.61% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $151.81, for a total transaction of $2,606,122.27. Following the transaction, the insider now directly owns 47,901 shares in the company, valued at $7,271,850.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.
MA has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 price objective (up previously from $138.00) on shares of Mastercard in a research report on Tuesday, September 19th. Zacks Investment Research raised shares of Mastercard from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Thursday, September 21st. Royal Bank of Canada reaffirmed a “buy” rating and set a $156.00 price objective on shares of Mastercard in a research report on Friday, September 22nd. Cantor Fitzgerald initiated coverage on shares of Mastercard in a research report on Thursday, September 28th. They set an “overweight” rating and a $165.00 price objective for the company. Finally, Buckingham Research initiated coverage on shares of Mastercard in a research report on Monday, October 2nd. They set a “buy” rating and a $163.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $161.82.
Mastercard Incorporated (NYSE MA) opened at $162.29 on Wednesday. Mastercard Incorporated has a 12-month low of $104.01 and a 12-month high of $163.94. The stock has a market cap of $171,852.61, a P/E ratio of 37.74, a PEG ratio of 1.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.66 and a current ratio of 1.66.
Mastercard (NYSE:MA) last announced its earnings results on Tuesday, October 31st. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.11. Mastercard had a net margin of 38.70% and a return on equity of 78.38%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business earned $1.08 earnings per share. Mastercard’s quarterly revenue was up 18.1% on a year-over-year basis. research analysts anticipate that Mastercard Incorporated will post 4.54 EPS for the current fiscal year.
Mastercard declared that its Board of Directors has authorized a stock buyback plan on Monday, December 4th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Tuesday, January 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Mastercard’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Monday, January 8th. Mastercard’s dividend payout ratio is presently 23.26%.
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MasterCard Incorporated is a technology company that connects consumers, financial institutions, merchants, governments and businesses across the world, enabling them to use electronic forms of payment. The Company operates through Payment Solutions segment. The Company allows user to make payments by creating a range of payment solutions and services using its brands, which include MasterCard, Maestro and Cirrus.
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