Parallel Advisors LLC increased its stake in The Western Union Company (NYSE: WU – Get Rating) by 22.2% during the first quarter, according to its latest SEC filing. The fund held 3,882 shares of the credit service provider after buying an additional 705 shares during the quarter. Parallel Advisors LLC’s holdings in Western Union were worth $75,000 at the end of the last quarter.
Other hedge funds and other institutional investors have also recently changed their positions in the company. CWM LLC bought a new position in Western Union stock in Q4 worth approximately $30,000. Riverview Trust Co increased its equity stake in Western Union to 99.7% in Q1. Riverview Trust Co now owns 2,047 shares of the credit service provider worth $38,000 after buying an additional 1,022 shares in the last quarter. Spire Wealth Management bought a new position in Western Union stock in the 4th quarter for a value of approximately $42,000. First Horizon Advisors Inc. increased its holdings of Western Union shares by 61.1% in the fourth quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit service provider worth $47,000 after buying 1,016 additional shares in the last quarter. Finally, Allworth Financial LP increased its stake in Western Union by 297.3% during the fourth quarter. Allworth Financial LP now owns 2,678 shares of the credit service provider valued at $48,000 after buying an additional 2,004 shares in the last quarter. 97.43% of the shares are held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
Several equity research analysts commented on the stock. StockNews.com assumed coverage of Western Union stocks in a Thursday, March 31 report. They have placed a “holding” rating on the stock. TheStreet downgraded Western Union shares from a “b-” rating to a “c+” rating in a Tuesday, July 12 report. UBS Group assumed coverage of Western Union shares in a Thursday, March 31 report. They set a “neutral” rating and a price target of $19.00 on the stock. Citigroup downgraded Western Union shares from a “buy” rating to a “neutral” rating and set a price target of $20.00 on the stock. in a report on 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 report. Five investment analysts gave the stock a sell rating, eight gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.65.
Western Union stock up 0.2%
WU stock opened at $16.73 on Friday. The Western Union Company has a 1-year low of $15.30 and a 1-year high of $23.49. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt ratio of 7.18. The company’s 50-day moving average is $16.87 and its 200-day moving average is $17.90. The stock has a market capitalization of $6.46 billion, a price-earnings ratio of 7.37 and a beta of 0.91.
Western Union (NYSE:WU – Get Rating) last released its quarterly results on Thursday, April 28. The credit service provider reported EPS of $0.51 for the quarter, beating consensus analyst estimates 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, compared to $1.16 billion for analysts. In the same period last year, the company earned $0.44 per share. The company’s quarterly revenue was down 4.5% year over year. Sell-side analysts expect The Western Union Company to post EPS of 1.8 for the current fiscal 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. This represents a dividend of $0.94 on an annualized basis and a yield of 5.62%. The ex-dividend date is Thursday, September 15. Western Union’s payout rate is currently 41.41%.
Western Union Company 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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