IFM Investors Pty Ltd raised its position in shares of The Western Union Company (NYSE:WU – Get Rating) by 21.4% in the 1st quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The fund held 78,188 shares of the credit service provider after buying an additional 13,797 shares during the period. IFM Investors Pty Ltd’s holdings in Western Union were worth $1,465,000 at the end of the last reporting period.
Other institutional investors also changed their stake in the company. CWM LLC purchased a new stake in Western Union stock during Q4 for $30,000. Riverview Trust Co increased its position in Western Union by 99.7% in the first quarter. Riverview Trust Co now owns 2,047 shares of the credit service provider valued at $38,000 after acquiring an additional 1,022 shares in the last quarter. First Horizon Advisors Inc. increased its position in Western Union by 61.1% in the fourth quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit services provider valued at $47,000 after acquiring 1,016 additional shares in the last quarter. National Bank of Canada FI acquired a new stake in Western Union in the fourth quarter valued at $49,000. Finally, UMB Bank NA MO bought a new stake in Western Union in the fourth quarter worth $49,000. 97.43% of the shares are held by hedge funds and other institutional investors.
Western Union trades up 0.7%
Western Union shares opened at $16.37 on Friday. The Western Union Company has a 52-week low of $15.30 and a 52-week high of $22.93. The company has a quick ratio of 0.98, a current ratio of 0.99 and a leverage ratio of 6.01. The company’s 50-day simple moving average is $16.76 and its 200-day simple moving average is $17.77. The company has a market capitalization of $6.31 billion, a price-earnings ratio of 7.34 and a beta of 0.89.
Western Union (NYSE:WU – Get Rating) last released its quarterly results on Wednesday, August 3. The credit service provider reported earnings per share (EPS) of $0.51 for the quarter, beating analyst consensus estimates of $0.41 by $0.10. Western Union had a net margin of 18.27% and a return on equity of 239.89%. In the same quarter last year, the company achieved 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 year.
Western Union announces dividend
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 dividend yield of 5.74%. Western Union’s dividend payout ratio (DPR) is 42.15%.
Analysts set new price targets
WU has been the subject of several research reports. UBS Group cut its price target on Western Union shares from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday. Citigroup cut 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 report on Friday, April 29. Wolfe Research downgraded Western Union shares from a “market performer” rating to an “underperformer” rating and cut its price target for the company from $20.00 to $17.00 in a Wednesday, July 20 research report. JPMorgan Chase & Co. cut its target price on Western Union shares from $20.00 to $19.00 in a Friday, April 29 report. Finally, TheStreet cut Western Union shares from a “b-” rating to a “c+” rating in a Tuesday, July 12 report. Five equity research analysts have assigned the stock a sell rating, eight have issued a hold rating and one has assigned the stock a buy rating. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.23.
About Western Union
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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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