Visa Sees Surge in Institutional Investor Interest

Visa Inc. (NYSE:V) has seen significant interest from institutional investors in recent quarters, with several major funds increasing their stakes in the company.

Allstate Corp boosted its position in Visa by 1.6% in the second quarter, according to a Form 13F filing with the SEC. The fund owned 185,266 shares of the credit-card processor's stock after acquiring an additional 2,917 shares during the quarter. This represents about 0.6% of Allstate Corp's portfolio.

Visa is one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. The company reported $3.32 earnings per share in its most recent quarterly results, topping analyst estimates by $0.09. Revenue was up 14.4% compared to the same quarter last year.

Several research firms have issued positive ratings on Visa, including Piper Sandler and JPMorgan Chase & Co., which both raised their price targets for the company in recent weeks.