Kentucky Retirement Systems Has $28.38 Million Holdings in Mastercard Incorporated (NYSE:MA)

Kentucky Retirement Systems lessened its holdings in Mastercard Incorporated (NYSE:MA) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,477 shares of the credit services provider’s stock after selling 4,390 shares during the quarter. Mastercard makes up approximately 0.8% of Kentucky Retirement Systems’ holdings, making the stock its 17th biggest holding. Kentucky Retirement Systems’ holdings in Mastercard were worth $28,382,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Capital Research Global Investors lifted its stake in Mastercard by 0.3% in the first quarter. Capital Research Global Investors now owns 13,651,904 shares of the credit services provider’s stock valued at $6,574,347,000 after buying an additional 43,881 shares during the period. International Assets Investment Management LLC raised its position in shares of Mastercard by 120,665.3% in the 3rd quarter. International Assets Investment Management LLC now owns 8,041,758 shares of the credit services provider’s stock valued at $3,971,020,000 after acquiring an additional 8,035,099 shares during the period. Ameriprise Financial Inc. raised its position in shares of Mastercard by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,082,729 shares of the credit services provider’s stock valued at $2,241,297,000 after acquiring an additional 71,569 shares during the period. Canada Pension Plan Investment Board grew its holdings in Mastercard by 2.7% during the second quarter. Canada Pension Plan Investment Board now owns 4,327,168 shares of the credit services provider’s stock valued at $1,908,973,000 after purchasing an additional 113,238 shares during the period. Finally, American Century Companies Inc. increased its stake in Mastercard by 0.9% in the second quarter. American Century Companies Inc. now owns 4,250,760 shares of the credit services provider’s stock valued at $1,875,266,000 after purchasing an additional 38,380 shares in the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.

Insider Activity

In related news, CMO Venkata R. Madabhushi sold 4,685 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $493.10, for a total value of $2,310,173.50. Following the completion of the sale, the chief marketing officer now directly owns 17,118 shares in the company, valued at $8,440,885.80. The trade was a 21.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Foundation Mastercard sold 90,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $468.80, for a total value of $42,192,000.00. Following the transaction, the insider now owns 91,649,308 shares in the company, valued at $42,965,195,590.40. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,370 shares of company stock valued at $97,749,218 over the last ninety days. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MA shares. KeyCorp boosted their price target on shares of Mastercard from $515.00 to $580.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on Mastercard from $550.00 to $565.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $572.00 price objective on shares of Mastercard in a report on Thursday. Morgan Stanley increased their target price on Mastercard from $544.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Compass Point began coverage on shares of Mastercard in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $525.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $549.16.

Mastercard Stock Performance

Shares of MA opened at $521.89 on Friday. The company has a market cap of $479.01 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The firm has a 50-day moving average of $504.09 and a 200-day moving average of $471.04. Mastercard Incorporated has a one year low of $395.55 and a one year high of $534.03. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.29 and a quick ratio of 1.29.

Mastercard (NYSE:MA) last released its quarterly earnings data on Thursday, October 31st. The credit services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.16. Mastercard had a return on equity of 178.27% and a net margin of 45.26%. The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the company earned $3.39 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities analysts forecast that Mastercard Incorporated will post 14.45 earnings per share 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 dividend yield of 0.51%. Mastercard’s dividend payout ratio is currently 19.97%.

About Mastercard

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.