Connor Clark & Lunn Investment Management Ltd. Acquires 53,258 Shares of Mastercard Incorporated (NYSE:MA)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Mastercard Incorporated (NYSE:MA) by 461.1% in the first quarter, Holdings Channel reports. The institutional investor owned 64,807 shares of the credit services provider’s stock after buying an additional 53,258 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Mastercard were worth $35,522,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Measured Risk Portfolios Inc. bought a new position in Mastercard during the 4th quarter worth approximately $31,000. Navigoe LLC bought a new position in Mastercard during the 4th quarter worth approximately $33,000. 10Elms LLP bought a new position in Mastercard during the 4th quarter worth approximately $33,000. Hughes Financial Services LLC bought a new position in Mastercard during the 1st quarter worth approximately $34,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Mastercard during the 4th quarter worth approximately $36,000. Institutional investors own 97.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. KeyCorp raised their price target on shares of Mastercard from $635.00 to $660.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a report on Thursday, July 17th. They set a “buy” rating and a $650.00 price target for the company. Truist Financial reduced their price objective on shares of Mastercard from $640.00 to $612.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Royal Bank Of Canada raised their price objective on shares of Mastercard from $650.00 to $656.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Wolfe Research set a $655.00 price objective on shares of Mastercard in a research report on Monday, June 23rd. Five analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $615.33.

Insider Activity

In other news, insider Raj Seshadri sold 1,100 shares of Mastercard stock in a transaction on Friday, June 27th. The stock was sold at an average price of $546.77, for a total transaction of $601,447.00. Following the sale, the insider directly owned 12,921 shares in the company, valued at $7,064,815.17. The trade was a 7.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Linda Pistecchia Kirkpatrick sold 959 shares of Mastercard stock in a transaction on Friday, June 13th. The stock was sold at an average price of $572.86, for a total value of $549,372.74. Following the sale, the insider owned 25,540 shares in the company, valued at $14,630,844.40. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,603 shares of company stock valued at $20,265,667 over the last quarter. 0.09% of the stock is owned by insiders.

Mastercard Price Performance

MA opened at $574.42 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $523.70 billion, a price-to-earnings ratio of 38.73, a P/E/G ratio of 2.36 and a beta of 1.03. The firm’s fifty day moving average price is $563.90 and its two-hundred day moving average price is $553.43. Mastercard Incorporated has a 1 year low of $453.46 and a 1 year high of $594.71.

Mastercard (NYSE:MA) last posted its quarterly earnings data on Thursday, July 31st. The credit services provider reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.10. The firm had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.50 EPS. As a group, analysts anticipate that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Wednesday, July 9th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 9th. Mastercard’s payout ratio is currently 20.50%.

Mastercard 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.