Algebris UK Ltd. Buys into Visa Inc.
Algebris UK Ltd., a fund management company, has acquired 23,906 shares of Visa Inc. (NYSE:V) worth approximately $8,176,000 in its most recent 13F filing with the Securities and Exchange Commission (SEC). This new stake was purchased in the second quarter.
According to MarketBeat, a number of other hedge funds and institutional investors have also adjusted their stakes in V. Vanguard Group Inc., for example, increased its holding by 0.7% during the fourth quarter, now owning 160,975,832 shares valued at $56,455,834,000.
Visa's price performance has been steady, with a one-year low of $293.89 and a one-year high of $373.97. The company's market capitalization is $653.65 billion, and its PE ratio stands at 31.15. Analysts have set new price targets for V, with some predicting it will reach as high as $430.00.