Nippon Life Insurance Co. reduced its position in Mastercard Inc (NYSE:MA) by 19.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 30,791 shares of the credit services provider’s stock after selling 7,216 shares during the period. Nippon Life Insurance Co.’s holdings in Mastercard were worth $3,463,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Integrated Investment Consultants LLC boosted its position in Mastercard by 260.0% in the first quarter. Integrated Investment Consultants LLC now owns 900 shares of the credit services provider’s stock valued at $101,000 after buying an additional 650 shares in the last quarter. Israel Discount Bank of New York GFN bought a new position in Mastercard during the fourth quarter valued at about $110,000. First Bank & Trust acquired a new stake in Mastercard during the fourth quarter valued at approximately $117,000. TLP Group LLC acquired a new stake in Mastercard during the third quarter valued at approximately $128,000. Finally, Archford Capital Strategies LLC raised its stake in Mastercard by 767.6% in the fourth quarter. Archford Capital Strategies LLC now owns 1,258 shares of the credit services provider’s stock valued at $129,000 after buying an additional 1,113 shares in the last quarter. Institutional investors own 75.53% of the company’s stock.
Mastercard (NYSE:MA) last issued its quarterly earnings data on Tuesday, May 2nd. The credit services provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.07. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Mastercard had a return on equity of 71.09% and a net margin of 37.67%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share.
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Several equities research analysts recently issued reports on the stock. Piper Jaffray Companies reissued a “buy” rating on shares of Mastercard in a report on Friday, April 14th. Jefferies Group LLC set a $123.00 price objective on shares of Mastercard and gave the company a “buy” rating in a report on Saturday, March 25th. Zacks Investment Research raised shares of Mastercard from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. BMO Capital Markets increased their target price on Mastercard from $123.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. Finally, Cowen and Company increased their target price on Mastercard from $122.00 to $127.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Mastercard presently has a consensus rating of “Buy” and a consensus target price of $118.76.
In related news, CEO Ajay Banga sold 161,742 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $117.27, for a total value of $18,967,484.34. Following the transaction, the chief executive officer now owns 333,495 shares in the company, valued at $39,108,958.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Fraccaro sold 763 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $112.35, for a total value of $85,723.05. Following the completion of the transaction, the insider now owns 4,791 shares in the company, valued at approximately $538,268.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,592 shares of company stock worth $32,014,163. Insiders own 3.14% of the company’s stock.
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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