Securian Asset Management Inc. Reduces Stock Holdings in Global Payments Inc. (NYSE:GPN)

Securian Asset Management Inc. reduced its position in Global Payments Inc. (NYSE:GPNFree Report) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,618 shares of the business services provider’s stock after selling 2,628 shares during the quarter. Securian Asset Management Inc.’s holdings in Global Payments were worth $2,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. BluePath Capital Management LLC bought a new stake in Global Payments in the 3rd quarter valued at about $27,000. Clear Street Markets LLC bought a new stake in shares of Global Payments in the fourth quarter valued at approximately $27,000. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Global Payments during the 3rd quarter valued at approximately $47,000. Massmutual Trust Co. FSB ADV boosted its holdings in Global Payments by 46.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 498 shares of the business services provider’s stock worth $57,000 after buying an additional 157 shares during the period. Finally, Credit Agricole S A purchased a new position in Global Payments in the 2nd quarter valued at approximately $55,000. 85.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Global Payments news, insider David Lawrence Green sold 17,920 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,016,537.60. Following the transaction, the insider now directly owns 77,411 shares of the company’s stock, valued at approximately $8,711,059.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GPN. KeyCorp increased their target price on Global Payments from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. BMO Capital Markets initiated coverage on Global Payments in a report on Tuesday, December 5th. They set a “market perform” rating and a $138.00 target price for the company. Mizuho lowered their price target on shares of Global Payments from $123.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. UBS Group restated a “neutral” rating and issued a $130.00 price objective on shares of Global Payments in a research report on Friday, October 20th. Finally, Monness Crespi & Hardt started coverage on shares of Global Payments in a report on Monday, October 2nd. They set a “buy” rating and a $175.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus price target of $144.85.

View Our Latest Research Report on Global Payments

Global Payments Trading Down 1.3 %

NYSE:GPN opened at $130.25 on Friday. The firm has a market capitalization of $33.92 billion, a P/E ratio of 39.00, a P/E/G ratio of 0.80 and a beta of 1.00. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average of $120.78 and a 200 day moving average of $117.65. Global Payments Inc. has a 52 week low of $94.05 and a 52 week high of $138.07.

Global Payments (NYSE:GPNGet Free Report) last posted its earnings results on Tuesday, October 31st. The business services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.20. Global Payments had a net margin of 9.23% and a return on equity of 11.28%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business posted $2.37 earnings per share. Global Payments’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts predict that Global Payments Inc. will post 9.79 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.77%. Global Payments’s dividend payout ratio is presently 29.94%.

Global Payments Company Profile

(Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

Further Reading

Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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