Cigna Investments Inc. New Acquires 1,064 Shares of Visa Inc. $V

Key Points

• Cigna Investments Inc. increased its stake in Visa Inc. by 6.5% in Q1, owning 17,357 shares valued at $6,083,000, making Visa its 14th largest position.
• Visa's average rating from analysts is "Moderate Buy," with a target price of $380.84, while some firms have raised their price objectives significantly.
• Recently, Visa declared a quarterly dividend of $0.59 per share, which will be paid on September 2, with an annual yield of 0.7%.

Cigna Investments Inc. New increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,357 shares of the credit-card processor's stock after buying an additional 1,064 shares during the period. Visa accounts for approximately 1.1% of Cigna Investments Inc. New's holdings, making the stock its 14th biggest holding. Cigna Investments Inc. New's holdings in Visa were worth $6,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Brave Warrior Advisors LLC bought a new stake in Visa during the 1st quarter worth approximately $217,000. Core Wealth Advisors Inc. bought a new stake in Visa during the 1st quarter worth approximately $281,000. Focus Partners Advisor Solutions LLC increased its stake in Visa by 8.3% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 36,355 shares of the credit-card processor's stock worth $12,741,000 after purchasing an additional 2,787 shares in the last quarter. First Financial Bankshares Inc increased its stake in Visa by 17.3% during the 1st quarter. First Financial Bankshares Inc now owns 3,124 shares of the credit-card processor's stock worth $1,095,000 after purchasing an additional 461 shares in the last quarter. Finally, FJ Capital Management LLC increased its stake in Visa by 229.5% during the 1st quarter. FJ Capital Management LLC now owns 2,952 shares of the credit-card processor's stock worth $1,035,000 after purchasing an additional 2,056 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

V stock traded up $0.28 during trading hours on Wednesday, hitting $350.35. 4,035,793 shares of the stock were exchanged, compared to its average volume of 5,490,003. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $642.11 billion, a P/E ratio of 34.21, a P/E/G ratio of 2.34 and a beta of 0.92. The company has a 50-day simple moving average of $348.47 and a two-hundred day simple moving average of $347.36. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business earned $2.42 earnings per share. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $383.17.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,507 shares of company stock valued at $25,213,475. 0.13% of the stock is currently owned by corporate insiders.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.