Mastercard Incorporated (MA) Stake Increased by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL lifted its stake in shares of Mastercard Incorporated (NYSE:MA) by 55.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 347,800 shares of the credit services provider’s stock after acquiring an additional 123,900 shares during the quarter. Mastercard comprises approximately 0.6% of Virginia Retirement Systems ET AL’s holdings, making the stock its 28th largest position. Virginia Retirement Systems ET AL’s holdings in Mastercard were worth $49,109,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MA. Legal & General Group Plc boosted its stake in Mastercard by 2.2% during the 3rd quarter. Legal & General Group Plc now owns 4,707,931 shares of the credit services provider’s stock valued at $664,700,000 after purchasing an additional 99,402 shares during the period. Jackson Wealth Management LLC boosted its stake in Mastercard by 11.3% during the 3rd quarter. Jackson Wealth Management LLC now owns 23,335 shares of the credit services provider’s stock valued at $3,399,000 after purchasing an additional 2,366 shares during the period. Great West Life Assurance Co. Can boosted its stake in Mastercard by 3.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,092,945 shares of the credit services provider’s stock valued at $153,141,000 after purchasing an additional 40,289 shares during the period. Nordea Investment Management AB boosted its stake in Mastercard by 5.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,093,192 shares of the credit services provider’s stock valued at $154,359,000 after purchasing an additional 52,121 shares during the period. Finally, ETRADE Capital Management LLC boosted its stake in Mastercard by 6.7% during the 3rd quarter. ETRADE Capital Management LLC now owns 34,805 shares of the credit services provider’s stock valued at $4,914,000 after purchasing an additional 2,179 shares during the period. Institutional investors own 75.61% of the company’s stock.

In other news, insider Edward Grunde Mclaughlin sold 17,167 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $151.81, for a total value of $2,606,122.27. Following the completion of the transaction, the insider now directly owns 47,901 shares of the company’s stock, valued at approximately $7,271,850.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

A number of brokerages have commented on MA. Citigroup raised their price objective on Mastercard from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Robert W. Baird raised their price objective on Mastercard from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. Piper Jaffray Companies reiterated a “buy” rating and issued a $161.00 price objective on shares of Mastercard in a research report on Friday, October 13th. Stephens began coverage on Mastercard in a research report on Friday, October 13th. They issued an “overweight” rating and a $166.00 price objective for the company. Finally, Zacks Investment Research upgraded Mastercard from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the 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 twelve month low of $104.01 and a twelve month high of $163.94. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $171,810.00, a P/E ratio of 37.83, a PEG ratio of 1.84 and a beta of 1.21.

Mastercard (NYSE:MA) last issued 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 return on equity of 78.38% and a net margin of 38.70%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm posted $1.08 EPS. Mastercard’s quarterly revenue was up 18.1% compared to the same quarter last year. research analysts predict that Mastercard Incorporated will post 4.54 earnings per share for the current year.

Mastercard declared that its Board of Directors has initiated a share buyback program on Monday, December 4th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management 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 issued a $0.25 dividend. The ex-dividend date is Monday, January 8th. This is a boost from Mastercard’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. Mastercard’s dividend payout ratio is presently 23.31%.

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About Mastercard

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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Institutional Ownership by Quarter for Mastercard (NYSE:MA)

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