Envestnet Asset Management Inc. increased its position in shares of The Western Union Company (NYSE:WU – Get Rating) by 4.5% in Q1, according to the company in its latest filing with the SEC. The fund held 766,138 shares of the credit service provider after buying an additional 33,000 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Western Union were worth $14,357,000 at the end of the most recent period.
Other hedge funds also changed their holdings in the company. CWM LLC purchased a new stake in shares of Western Union during the fourth quarter worth approximately $30,000. Riverview Trust Co raised its position in Western Union shares by 99.7% in Q1. Riverview Trust Co now owns 2,047 shares of the credit service provider valued at $38,000 after buying an additional 1,022 shares in the last quarter. First Horizon Advisors Inc. raised its position in Western Union shares by 61.1% in the fourth quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit service provider valued at $47,000 after buying 1,016 additional shares in the last quarter. National Bank of Canada FI bought a new position in Western Union stock in Q4 worth approximately $49,000. Finally, UMB Bank NA MO bought a new position in Western Union stock in Q4 valued at around $49,000. 97.43% of the shares are held by hedge funds and other institutional investors.
Western Union price performance
Western Union stock opened at $16.25 on Friday. The company’s fifty-day moving average price is $16.79 and its 200-day moving average price is $17.79. The Western Union Company has a 1-year low of $15.30 and a 1-year high of $22.93. The stock has a market capitalization of $6.27 billion, a P/E ratio of 7.16 and a beta of 0.89. The company has a debt ratio of 7.18, a quick ratio of 0.98 and a current ratio of 0.98.
Western Union (NYSE:WU – Get Rating) last reported quarterly earnings data on Wednesday, August 3. The credit services provider reported earnings per share of $0.51 for the quarter, beating consensus analyst estimates of $0.41 by $0.10. Western Union had a return on equity of 269.10% and a net margin of 18.29%. During the same period last year, the company posted EPS of $0.48. As a group, equity research analysts expect The Western Union Company to post 1.8 earnings per share for the current fiscal year.
Western Union Dividend Announcement
The company also recently announced 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. The ex-dividend date is Thursday, September 15. This represents a dividend of $0.94 on an annualized basis and a yield of 5.78%. Western Union’s payout rate is currently 41.41%.
A Wall Street analyst gives his opinion
Several stock analysts have recently commented on WU shares. JPMorgan Chase & Co. cut its price target on Western Union shares from $20.00 to $19.00 in a Friday, April 29 research report. UBS Group cut its price target on Western Union shares from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday. Goldman Sachs Group began covering Western Union shares in a report on Tuesday, May 17. They issued a “sell” rating and a price target of $18.00 on the stock. Citigroup downgraded Western Union shares from a “buy” rating to a “neutral” rating and set a price target of $20.00 for the stock. in a report on Friday, April 29. Finally, Morgan Stanley cut its price target on Western Union shares from $15.00 to $14.00 and set an “underweight” rating on the stock in a report released Thursday. Five equity research analysts gave the stock a sell rating, eight gave the company a hold rating and one gave the company a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.23.
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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