Sumitomo Life Insurance Co. Has $10.19 Million Position in Visa Inc (V)

Sumitomo Life Insurance Co. reduced its position in shares of Visa Inc (NYSE:V) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,887 shares of the credit-card processor’s stock after selling 1,157 shares during the period. Visa makes up approximately 1.2% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 12th largest position. Sumitomo Life Insurance Co.’s holdings in Visa were worth $10,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Aperio Group LLC increased its holdings in Visa by 2.5% in the third quarter. Aperio Group LLC now owns 1,355,192 shares of the credit-card processor’s stock valued at $203,401,000 after buying an additional 33,513 shares in the last quarter. Sitrin Capital Management LLC increased its holdings in Visa by 2.3% in the third quarter. Sitrin Capital Management LLC now owns 50,634 shares of the credit-card processor’s stock valued at $7,600,000 after buying an additional 1,127 shares in the last quarter. Highland Capital Management LLC increased its holdings in Visa by 1.9% in the third quarter. Highland Capital Management LLC now owns 90,661 shares of the credit-card processor’s stock valued at $13,607,000 after buying an additional 1,714 shares in the last quarter. Rothschild Investment Corp IL increased its holdings in Visa by 0.9% in the third quarter. Rothschild Investment Corp IL now owns 49,539 shares of the credit-card processor’s stock valued at $7,435,000 after buying an additional 438 shares in the last quarter. Finally, BB&T Corp increased its holdings in Visa by 6.0% in the third quarter. BB&T Corp now owns 241,316 shares of the credit-card processor’s stock valued at $36,219,000 after buying an additional 13,724 shares in the last quarter. 80.63% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP William M. Sheedy sold 13,864 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $144.97, for a total transaction of $2,009,864.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William M. Sheedy sold 99,636 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the sale, the executive vice president now owns 296,925 shares in the company, valued at approximately $41,355,714. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,395 shares of company stock worth $16,697,489. 0.14% of the stock is owned by company insiders.

A number of research analysts have issued reports on V shares. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a report on Tuesday, September 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $166.00 target price on shares of Visa in a report on Thursday, October 25th. Royal Bank of Canada increased their target price on shares of Visa to $170.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. BMO Capital Markets started coverage on shares of Visa in a report on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 target price for the company. Finally, Barclays started coverage on shares of Visa in a report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 target price for the company. Two analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $156.09.

Shares of V opened at $137.11 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. Visa Inc has a 1-year low of $111.02 and a 1-year high of $151.56. The company has a market cap of $284.50 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, sell-side analysts expect that Visa Inc will post 5.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Friday, November 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio (DPR) is 21.69%.

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Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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