Norges Bank Makes New $3.01 Million Investment in PagSeguro Digital Ltd. (NYSE:PAGS)

Norges Bank purchased a new stake in shares of PagSeguro Digital Ltd. (NYSE:PAGS) during the 4th quarter, Holdings Channel.com reports. The fund purchased 480,676 shares of the company’s stock, valued at approximately $3,009,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PAGS. JPMorgan Chase & Co. increased its stake in shares of PagSeguro Digital by 101.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,985,074 shares of the company’s stock valued at $17,091,000 after buying an additional 999,237 shares during the period. Harbour Capital Advisors LLC bought a new position in PagSeguro Digital in the fourth quarter valued at about $482,000. SPX Gestao de Recursos Ltda acquired a new stake in PagSeguro Digital in the third quarter worth about $38,151,000. Geode Capital Management LLC raised its holdings in PagSeguro Digital by 49.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,379,809 shares of the company’s stock worth $29,014,000 after purchasing an additional 1,113,103 shares during the last quarter. Finally, State Street Corp lifted its position in PagSeguro Digital by 50.8% during the 3rd quarter. State Street Corp now owns 5,908,054 shares of the company’s stock valued at $50,868,000 after purchasing an additional 1,990,849 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

PagSeguro Digital Stock Down 3.9 %

Shares of PAGS stock opened at $8.05 on Friday. PagSeguro Digital Ltd. has a 12-month low of $6.11 and a 12-month high of $14.82. The firm has a fifty day moving average of $7.85 and a 200-day moving average of $7.60. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.51 and a beta of 1.85.

PagSeguro Digital (NYSE:PAGS) last posted its earnings results on Friday, February 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. PagSeguro Digital had a return on equity of 15.49% and a net margin of 11.12%. The firm had revenue of $875.27 million during the quarter, compared to analysts’ expectations of $872.66 million. Research analysts expect that PagSeguro Digital Ltd. will post 1.17 earnings per share for the current year.

Analysts Set New Price Targets

PAGS has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of PagSeguro Digital from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Citigroup reaffirmed a “neutral” rating and set a $7.00 target price (down previously from $17.00) on shares of PagSeguro Digital in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.63.

About PagSeguro Digital

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.