Hancock Whitney Corp Reduces Stock Holdings in Mastercard Incorporated (NYSE:MA)

by · The Markets Daily

Hancock Whitney Corp lessened its holdings in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 5.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,237 shares of the credit services provider’s stock after selling 295 shares during the quarter. Hancock Whitney Corp’s holdings in Mastercard were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sarasin & Partners LLP increased its holdings in shares of Mastercard by 4.7% during the 3rd quarter. Sarasin & Partners LLP now owns 831,942 shares of the credit services provider’s stock valued at $410,813,000 after purchasing an additional 37,486 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Mastercard by 4.8% in the third quarter. Principal Financial Group Inc. now owns 3,031,915 shares of the credit services provider’s stock valued at $1,497,160,000 after buying an additional 138,842 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of Mastercard in the first quarter worth about $608,000. SteelPeak Wealth LLC grew its position in shares of Mastercard by 48.6% during the 2nd quarter. SteelPeak Wealth LLC now owns 4,928 shares of the credit services provider’s stock valued at $2,174,000 after acquiring an additional 1,612 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Mastercard by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,010,430 shares of the credit services provider’s stock valued at $2,474,151,000 after purchasing an additional 100,550 shares in the last quarter. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Mastercard Price Performance

Mastercard stock opened at $526.60 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.36. The company has a 50-day moving average price of $507.49 and a 200 day moving average price of $474.33. Mastercard Incorporated has a 12-month low of $404.32 and a 12-month high of $534.03. The stock has a market cap of $483.33 billion, a P/E ratio of 39.83, a PEG ratio of 2.32 and a beta of 1.10.

Mastercard (NYSE:MA – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.16. Mastercard had a net margin of 45.26% and a return on equity of 178.27%. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the firm earned $3.39 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Mastercard Incorporated will post 14.47 earnings per share for the current year.

Mastercard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were given a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.64 dividend on an annualized basis and a yield of 0.50%. Mastercard’s dividend payout ratio is currently 19.97%.

Insider Transactions at Mastercard

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $489.86, for a total transaction of $2,294,994.10. Following the completion of the transaction, the chief marketing officer now owns 15,031 shares of the company’s stock, valued at approximately $7,363,085.66. This trade represents a 23.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MA. Morgan Stanley increased their price target on Mastercard from $544.00 to $564.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. TD Cowen lifted their price target on shares of Mastercard from $533.00 to $567.00 and gave the company a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on shares of Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Mizuho lifted their target price on shares of Mastercard from $496.00 to $532.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $572.00 price target on shares of Mastercard in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $549.16.

View Our Latest Stock Analysis on MA

About Mastercard

(Free Report)

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.

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