Retirement Systems of Alabama reduced its stake in shares of The Western Union Company (NYSE:WU – Get Rating) by 1.8% in Q1, Holdings Channel reports. The institutional investor held 516,708 shares of the credit service provider after selling 9,711 shares during the quarter. Retirement Systems of Alabama’s holdings of Western Union were worth $9,683,000 when it last filed with the SEC.
Several other large investors have also recently changed their holdings in WU. Centennial Wealth Advisory LLC bought a new stake in Western Union in Q1 worth $234,000. Rockland Trust Co. increased its position in Western Union by 38.4% in the 1st quarter. Rockland Trust Co. now owns 48,354 shares of the credit service provider valued at $906,000 after buying 13,418 additional shares in the last quarter. AE Wealth Management LLC increased its position in Western Union by 34.6% in the 1st quarter. AE Wealth Management LLC now owns 283,194 shares of the credit service provider valued at $5,307,000 after purchasing an additional 72,761 shares in the last quarter. IFM Investors Pty Ltd increased its position in Western Union by 21.4% in the 1st quarter. IFM Investors Pty Ltd now owns 78,188 shares of the credit services provider valued at $1,465,000 after buying an additional 13,797 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisor LP increased its position in Western Union by 63.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor LP now owns 70,974 shares of the credit services provider valued at $1,330,000 after buying 27,469 additional shares in the last quarter. Institutional investors and hedge funds own 97.43% of the company’s shares.
WU has been the subject of several analyst reports. Morgan Stanley reworded a “sell” rating and set a $15.50 price target on Western Union shares in a Friday, March 11 research report. Goldman Sachs Group launched coverage on Western Union shares in a research report on Tuesday, May 17. They set a rating of “sell” and a price target of $18.00 for the company. Citigroup cut Western Union shares from a “buy” rating to a “neutral” rating and set a price target of $20.00 for the stock. in a research note from Friday, April 29. UBS Group launched coverage on Western Union shares in a research note on Thursday, March 31. They set a “neutral” rating and a price target of $19.00 on the stock. 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. Four equity research analysts gave the stock a sell rating, nine gave the company a hold rating and one gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.96.
Western Union stock opened Tuesday at $16.81. The Western Union Company has a 12-month low of $15.30 and a 12-month high of $23.68. The stock has a market capitalization of $6.49 billion, a P/E ratio of 7.41 and a beta of 0.91. The company’s 50-day moving average is $17.12 and its two-hundred-day moving average is $18.03. The company has a debt ratio of 7.18, a current ratio of 0.98 and a quick ratio of 0.98.
Western Union (NYSE:WU – Get Rating) last released its quarterly results on Thursday, April 28. The credit service provider reported earnings per share (EPS) of $0.51 for the quarter, beating the consensus estimate of $0.44 by $0.07. Western Union had a net margin of 18.29% and a return on equity of 269.10%. The company posted revenue of $1.16 billion for the quarter, versus $1.16 billion for analysts. During the same period last year, the company achieved EPS of $0.44. The company’s revenue for the quarter decreased 4.5% compared to the same quarter last year. As a group, analysts expect The Western Union Company to post EPS of 1.8 for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Thursday, June 16 received a dividend of $0.235 per share. The ex-dividend date was Wednesday, June 15. This represents an annualized dividend of $0.94 and a dividend yield of 5.59%. Western Union’s dividend payout ratio is currently 41.41%.
Western Union profile (Get a rating)
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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