Visa Inc. (NYSE:V) Shares Acquired by Cigna Investments Inc. New

Cigna Investments Inc. New grew its stake in shares of Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,293 shares of the credit-card processor’s stock after purchasing an additional 67 shares during the period. Visa comprises about 0.9% of Cigna Investments Inc. New’s holdings, making the stock its 14th biggest holding. Cigna Investments Inc. New’s holdings in Visa were worth $5,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning raised its stake in Visa by 2.4% during the 3rd quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock valued at $155,822,000 after purchasing an additional 13,318 shares during the period. Swedbank AB grew its holdings in shares of Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after buying an additional 199,440 shares in the last quarter. Leisure Capital Management raised its position in Visa by 3.7% during the third quarter. Leisure Capital Management now owns 5,606 shares of the credit-card processor’s stock valued at $1,541,000 after buying an additional 199 shares during the period. Baskin Financial Services Inc. lifted its stake in Visa by 0.4% in the 3rd quarter. Baskin Financial Services Inc. now owns 178,459 shares of the credit-card processor’s stock worth $49,067,000 after acquiring an additional 748 shares in the last quarter. Finally, Indiana Trust & Investment Management Co boosted its position in Visa by 0.6% during the 3rd quarter. Indiana Trust & Investment Management Co now owns 8,235 shares of the credit-card processor’s stock worth $2,264,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Citigroup boosted their price target on shares of Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Robert W. Baird increased their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James restated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Insider Activity

In other news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,056 shares of company stock worth $19,830,050. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Up 1.1 %

Shares of V stock opened at $355.52 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $356.08. The firm’s fifty day simple moving average is $323.36 and its 200 day simple moving average is $297.90. The firm has a market capitalization of $660.47 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts predict that Visa Inc. will post 11.27 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

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.