The Manufacturers Life Insurance Company Has $307.81 Million Position in Mastercard Incorporated (NYSE:MA)

The Manufacturers Life Insurance Company lessened its position in Mastercard Incorporated (NYSE:MA) by 1.1% during the third quarter, Holdings Channel reports. The institutional investor owned 623,340 shares of the credit services provider’s stock after selling 7,009 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Mastercard were worth $307,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MA. Highline Wealth Partners LLC acquired a new stake in Mastercard in the 3rd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Mastercard in the 2nd quarter valued at approximately $34,000. Fairway Wealth LLC acquired a new position in shares of Mastercard during the 2nd quarter worth approximately $35,000. First Personal Financial Services acquired a new position in shares of Mastercard during the 3rd quarter worth approximately $39,000. Finally, Lowe Wealth Advisors LLC increased its position in shares of Mastercard by 74.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 87 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Mastercard Stock Performance

MA opened at $526.60 on Tuesday. The company has a market capitalization of $483.33 billion, a PE ratio of 39.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.10. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day simple moving average of $507.49 and a 200 day simple moving average of $474.33. Mastercard Incorporated has a 1 year low of $404.32 and a 1 year high of $534.03.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.16. The firm had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.39 EPS. Research analysts expect that Mastercard Incorporated will post 14.47 EPS for the current year.

Mastercard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Wednesday, October 9th were issued a $0.66 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.64 annualized dividend and a yield of 0.50%. Mastercard’s dividend payout ratio is presently 19.97%.

Insider Buying and Selling at Mastercard

In other news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 20th. The stock was 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. The trade was a 23.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MA shares. TD Cowen boosted their price target on Mastercard from $533.00 to $567.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Compass Point started coverage on Mastercard in a research report on Wednesday, September 4th. They set a “neutral” rating and a $525.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Mastercard from $510.00 to $580.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer began coverage on Mastercard in a research report on Tuesday, October 1st. They set an “outperform” rating and a $591.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Mastercard from $593.00 to $580.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Four equities 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. Based on data from MarketBeat.com, Mastercard presently has a consensus rating of “Moderate Buy” and an average price target of $549.16.

Mastercard Company Profile

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.