Renaissance Investment Group buys $3.6 Million stake in Visa Inc (V)

Visa Inc (V) : Renaissance Investment Group scooped up 5,715 additional shares in Visa Inc during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 46,165 shares of Visa Inc which is valued at $3.6 Million.Visa Inc makes up approximately 1.79% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group reduced its stake in V by selling 838 shares or 3.93% in the most recent quarter. The Hedge Fund company now holds 20,460 shares of V which is valued at $1.6 Million. Visa Inc makes up approx 0.34% of Beacon Financial Group’s portfolio.

On the company’s financial health, Visa Inc reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.68. The company had revenue of $3565.00 million for the quarter, compared to analysts expectations of $3605.16 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS.

Many Wall Street Analysts have commented on Visa Inc. Visa Inc was Downgraded by BofA/Merrill to ” Neutral” on Feb 11, 2016. Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 87 from a previous price target of $91 .

Visa Inc closed down -0.21 points or -0.27% at $77.82 with 59,57,176 shares getting traded on Monday. Post opening the session at $78.36, the shares hit an intraday low of $77.77 and an intraday high of $78.78 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Visa Inc. is a payments technology company. The Company is engaged in operating a processing network VisaNet which facilitates authorization clearing and settlement of payment transactions across the world. The Company provides its services to consumers businesses financial institutions and governments in more than 200 countries and territories for electronic payments. The Company offers fraud protection for account holders and rapid payment for merchants. The Company provides a variety of payment solutions that support payment products that issuers can offer to their account holders such as pay now with debit pay ahead with prepaid or pay later with credit products. The Company offers a suite of digital eCommerce and mobile products and services.

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