Zurich Insurance Group Ltd FI raised its stake in Mastercard Inc (NYSE:MA) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,806 shares of the credit services provider’s stock after acquiring an additional 17,738 shares during the quarter. Mastercard makes up approximately 0.9% of Zurich Insurance Group Ltd FI’s investment portfolio, making the stock its 18th largest position. Zurich Insurance Group Ltd FI’s holdings in Mastercard were worth $47,564,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Budros Ruhlin & Roe Inc. increased its stake in shares of Mastercard by 25.2% during the 1st quarter. Budros Ruhlin & Roe Inc. now owns 1,883 shares of the credit services provider’s stock worth $443,000 after purchasing an additional 379 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Mastercard by 674.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 59,596 shares of the credit services provider’s stock worth $14,032,000 after purchasing an additional 51,896 shares during the last quarter. Pinnacle Advisory Group Inc. acquired a new position in shares of Mastercard during the 1st quarter worth $247,000. Great Valley Advisor Group Inc. increased its stake in shares of Mastercard by 23.6% during the 1st quarter. Great Valley Advisor Group Inc. now owns 3,712 shares of the credit services provider’s stock worth $873,000 after purchasing an additional 709 shares during the last quarter. Finally, Enterprise Financial Services Corp grew its stake in Mastercard by 5.0% in the 1st quarter. Enterprise Financial Services Corp now owns 5,943 shares of the credit services provider’s stock valued at $1,399,000 after buying an additional 282 shares during the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.
In other news, major shareholder Foundation Mastercard sold 23,850 shares of Mastercard stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $279.47, for a total transaction of $6,665,359.50. Following the completion of the sale, the insider now owns 112,102,262 shares in the company, valued at approximately $31,329,219,161.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lance Darrell Gordon Uggla purchased 1,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were acquired at an average price of $275.71 per share, with a total value of $413,565.00. Following the transaction, the director now owns 3,691 shares in the company, valued at $1,017,645.61. The disclosure for this purchase can be found here. Insiders sold a total of 148,457 shares of company stock valued at $40,747,113 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Mastercard stock traded down $3.35 during mid-day trading on Friday, reaching $272.56. The company had a trading volume of 2,558,216 shares, compared to its average volume of 3,434,020. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 1.55. Mastercard Inc has a 52 week low of $171.89 and a 52 week high of $293.69. The company has a 50 day moving average of $276.20 and a 200-day moving average of $257.67. The firm has a market cap of $280.27 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 2.18 and a beta of 1.08.
Mastercard (NYSE:MA) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.07. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Mastercard had a net margin of 42.71% and a return on equity of 135.02%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 EPS. On average, analysts predict that Mastercard Inc will post 7.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.48%. The ex-dividend date is Tuesday, October 8th. Mastercard’s payout ratio is presently 20.34%.
A number of research firms recently issued reports on MA. William Blair reiterated an “outperform” rating on shares of Mastercard in a research note on Friday, September 13th. Susquehanna Bancshares raised their target price on shares of Mastercard from $293.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Tigress Financial reiterated a “buy” rating on shares of Mastercard in a research note on Thursday, August 22nd. Deutsche Bank raised their target price on shares of Mastercard from $267.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Wedbush raised their target price on shares of Mastercard from $261.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $298.10.
Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. It facilitates the processing of payment transactions, including authorization, clearing, and settlement, as well as delivers related products and services.
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