Nordea Investment Management AB increased its position in shares of The Western Union Company (NYSE: WU – Get Rating) by 8.6% during the first quarter, Holdings Channel reports. The fund held 32,623 shares of the credit service provider after acquiring 2,593 additional shares during the quarter. Nordea Investment Management AB’s holdings in Western Union were worth $615,000 at the end of the last quarter.
Other hedge funds have also recently increased or reduced their stakes in the company. Tortoise Index Solutions LLC increased its holdings in Western Union by 4.0% in the fourth quarter. Tortoise Index Solutions LLC now owns 13,894 shares of the credit services provider valued at $248,000 after purchasing an additional 540 shares during the period. Strs Ohio increased its position in Western Union shares by 4.1% in the fourth quarter. Strs Ohio now owns 17,317 shares of the credit service provider worth $308,000 after acquiring 683 additional shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in Western Union by 4.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 15,906 shares of the credit service provider valued at $284,000 after purchasing an additional 694 shares during the period. Kendall Capital Management increased its position in Western Union by 0.8% during the fourth quarter. Kendall Capital Management now owns 119,762 shares of the credit services provider worth $2,137,000 after buying 940 additional shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Western Union by 61.1% during the fourth quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit service provider worth $47,000 after purchasing 1,016 additional shares during the period. 97.43% of the shares are held by hedge funds and other institutional investors.
NYSE WU shares opened at $16.57 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt ratio of 7.18. The Western Union Company has a fifty-two week low of $15.30 and a fifty-two week high of $23.68. The company has a 50-day moving average price of $17.33 and a two-hundred-day moving average price of $18.07. The company has a market capitalization of $6.40 billion, a PE ratio of 7.30 and a beta of 0.91.
Western Union (NYSE:WU – Get Rating) last released its results on Thursday, April 28. The credit service provider reported EPS of $0.51 for the quarter, beating the consensus estimate of $0.44 by $0.07. The company posted revenue of $1.16 billion in the quarter, versus $1.16 billion expected by analysts. Western Union had a return on equity of 269.10% and a net margin of 18.29%. The company’s revenue was down 4.5% year over year. During the same period a year earlier, the company posted EPS of $0.44. On average, analysts expect The Western Union Company to post 1.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Thursday, June 16 will receive a dividend of $0.235. This represents an annualized dividend of $0.94 and a dividend yield of 5.67%. The ex-dividend date is Wednesday, June 15. Western Union’s payout rate is currently 41.41%.
A number of analysts have recently commented on the company. UBS Group began covering Western Union in a report on Thursday, March 31. They set a “neutral” rating and a price target of $19.00 for the company. JPMorgan Chase & Co. cut its price target on Western Union from $20.00 to $19.00 in a Friday, April 29 report. Wolfe Research reiterated a “hold” rating and set a price target of $21.00 on Western Union shares in a Friday, March 25 report. StockNews.com launched coverage on Western Union shares in a Thursday, March 31 report. They issued a “holding” rating on the stock. Finally, Morgan Stanley reiterated a “sell” note and set a $15.50 price target on Western Union shares in a Friday, March 11 research note. Four investment 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, Western Union currently has an average rating of “Hold” and a consensus price target of $19.96.
About Western Union (Get an assessment)
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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