Confluence Wealth Services Inc. Has $2.49 Million Stock Position in Mastercard Incorporated (NYSE:MA)

by · The Markets Daily

Confluence Wealth Services Inc. raised its holdings in shares of Mastercard Incorporated (NYSE:MA – Free Report) by 2.8% in the first quarter, Holdings Channel reports. The institutional investor owned 4,696 shares of the credit services provider’s stock after buying an additional 129 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Mastercard were worth $2,489,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Mastercard in the 4th quarter valued at $6,022,224,000. GAMMA Investing LLC boosted its position in shares of Mastercard by 65,631.5% during the 1st quarter. GAMMA Investing LLC now owns 8,225,637 shares of the credit services provider’s stock valued at $4,508,636,000 after acquiring an additional 8,213,123 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Mastercard in the fourth quarter valued at about $837,017,000. Northern Trust Corp raised its position in Mastercard by 15.2% in the fourth quarter. Northern Trust Corp now owns 9,149,181 shares of the credit services provider’s stock worth $4,817,684,000 after purchasing an additional 1,207,787 shares in the last quarter. Finally, Sanders Capital LLC bought a new position in Mastercard during the fourth quarter worth about $617,303,000. 97.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MA shares. Jefferies Financial Group reiterated a “buy” rating on shares of Mastercard in a research report on Friday, June 6th. Monness Crespi & Hardt lowered shares of Mastercard from a “buy” rating to a “neutral” rating in a report on Wednesday, April 9th. Macquarie dropped their target price on shares of Mastercard from $645.00 to $610.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Citigroup boosted their price target on shares of Mastercard from $650.00 to $652.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, UBS Group raised their price objective on shares of Mastercard from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and an average price target of $611.50.

Read Our Latest Stock Analysis on MA

Mastercard Stock Performance

NYSE MA opened at $552.02 on Friday. Mastercard Incorporated has a 52-week low of $428.86 and a 52-week high of $594.71. The company has a fifty day moving average of $563.13 and a 200-day moving average of $545.36. The company has a market capitalization of $503.28 billion, a P/E ratio of 38.71, a P/E/G ratio of 2.38 and a beta of 1.05. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.11 and a current ratio of 1.11.

Mastercard (NYSE:MA – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The credit services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.57 by $0.16. The firm had revenue of $7.25 billion for the quarter, compared to the consensus estimate of $7.12 billion. Mastercard had a net margin of 45.21% and a return on equity of 196.87%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm posted $3.31 earnings per share. As a group, equities research analysts predict that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, July 9th. This represents a $3.04 annualized dividend and a yield of 0.55%. Mastercard’s payout ratio is currently 21.32%.

Insiders Place Their Bets

In other news, insider Craig Vosburg sold 14,051 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $585.05, for a total value of $8,220,537.55. Following the completion of the sale, the insider now directly owns 58,451 shares of the company’s stock, valued at approximately $34,196,757.55. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Linda Pistecchia Kirkpatrick sold 958 shares of Mastercard stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $560.00, for a total value of $536,480.00. Following the sale, the insider now directly owns 24,582 shares in the company, valued at approximately $13,765,920. The trade was a 3.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,383 shares of company stock valued at $19,035,108 in the last quarter. Insiders own 0.09% of the company’s stock.

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.

Recommended Stories

Want to see what other hedge funds are holding MA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mastercard Incorporated (NYSE:MA – Free Report).