abrdn plc reduced its position in The Western Union Company (NYSE: WU – Get Rating) by 31.8% during the 1st quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission. The fund held 90,581 shares of the credit service provider after selling 42,283 shares during the quarter. abrn plc’s holdings in Western Union were worth $1,712,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also bought and sold shares of WU. BlackRock Inc. increased its stake in Western Union by 17.2% in the fourth quarter. BlackRock Inc. now owns 60,702,355 shares of the credit service provider worth $1,082,930,000 after purchasing an additional 8,905,368 shares in the last quarter. Schroder Investment Management Group increased its holdings in Western Union by 121.2% in the fourth quarter. Schroder Investment Management Group now owns 7,143,709 shares of the credit service provider worth $127,444,000 after buying an additional 3,914,104 shares in the last quarter. Discerene Group LP increased its stake in Western Union by 138.6% in the fourth quarter. Discerene Group LP now owns 5,681,336 shares of the credit services provider worth $101,355,000 after buying 3,299,899 additional shares in the last quarter. Principal Financial Group Inc. increased its stake in Western Union by 162.5% in the fourth quarter. Principal Financial Group Inc. now owns 1,429,917 shares of the credit service provider worth $25,510,000 after purchasing an additional 885,273 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Western Union by 346.0% in the fourth quarter. Squarepoint Ops LLC now owns 1,088,945 shares of the credit services provider worth $19,427,000 after purchasing an additional 844,801 shares in the last quarter. 97.43% of the shares are held by hedge funds and other institutional investors.
Changes to analyst ratings
Several equity research analysts have recently commented on the stock. TheStreet downgraded Western Union shares from a “b-” rating to a “c+” rating in a Tuesday, July 12 research note. Goldman Sachs Group assumed coverage for Western Union shares in a research note on Tuesday, May 17. They set a rating of “sell” and a price target of $18.00 for the company. Wolfe Research downgraded Western Union shares from a “market performance” rating to an “underperform” rating and lowered its price target for the stock from $20.00 to $17.00 in a research note from Wednesday, July 20. Citigroup downgraded Western Union shares from a “buy” rating to a “neutral” rating and set a price target of $20.00 for the company. in a research note from Friday, April 29. Finally, JPMorgan Chase & Co. lowered its price target on Western Union shares from $20.00 to $19.00 in a Friday, April 29 research note. Five investment analysts gave the stock a sell rating, eight issued a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, Western Union currently has an average rating of “Hold” and a consensus price target of $19.65.
Western Union shares down 0.1%
Western Union shares opened at $17.00 on Tuesday. The company has a market capitalization of $6.56 billion, a price-earnings ratio of 7.49 and a beta of 0.89. The Western Union Company has a 52 week minimum of $15.30 and a 52 week maximum of $23.48. The company’s 50-day moving average price is $16.83 and its 200-day moving average price is $17.82. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt ratio of 7.18.
Western Union Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Friday, September 16 will receive a dividend of $0.235 per share. The ex-dividend date is Thursday, September 15. This represents a dividend of $0.94 on an annualized basis and a yield of 5.53%. Western Union’s dividend payout ratio is currently 41.41%.
Western Union profile
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The Western Union Company provides money transfer and payment services worldwide. The Company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents and sub-agents; and offers international cross-border transfers and intra-country transfers, as well as money transfer transactions via websites and mobile devices.
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