Cigna Investments Inc. New Sells 379 Shares of Visa Inc. (NYSE:V)

Cigna Investments Inc. New lessened its position in shares of Visa Inc. (NYSE:V) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,469 shares of the credit-card processor’s stock after selling 379 shares during the period. Visa makes up about 0.8% of Cigna Investments Inc. New’s portfolio, making the stock its 17th largest holding. Cigna Investments Inc. New’s holdings in Visa were worth $4,323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors increased its position in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors increased its position in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the period. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth $3,895,015,000. Finally, Jennison Associates LLC increased its position in shares of Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on V. JPMorgan Chase & Co. decreased their price objective on shares of Visa from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. TD Cowen reduced their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Mizuho raised their price target on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $307.25.

Visa Stock Up 2.2 %

Shares of NYSE V traded up $5.67 during trading on Thursday, hitting $266.81. The stock had a trading volume of 7,397,535 shares, compared to its average volume of 7,241,343. The firm has a fifty day moving average of $266.84 and a two-hundred day moving average of $273.69. The company has a market capitalization of $486.21 billion, a PE ratio of 29.53, a PEG ratio of 1.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

Visa 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.