Principal Financial Group Inc. increased its stake in The Western Union Company (NYSE:WU – Get Rating) by 11.7% during the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The company owned 1,596,934 shares of the credit service provider after acquiring an additional 167,017 shares during the period. Principal Financial Group Inc. owned 0.41% of Western Union worth $29,927,000 when it last filed with the Securities and Exchange Commission.
Other large investors have also increased or reduced their stake in the company. Tortoise Index Solutions LLC increased its position in Western Union by 4.0% during the 4th quarter. Tortoise Index Solutions LLC now owns 13,894 shares of the credit services provider worth $248,000 after purchasing an additional 540 shares during the period. FCF Advisors LLC increased its position in Western Union by 2.7% in the 1st quarter. FCF Advisors LLC now owns 25,304 shares of the credit service provider worth $474,000 after purchasing an additional 661 shares during the period. Deseret Mutual Benefit Administrators increased its position in Western Union by 4.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 15,906 shares of the credit services provider worth $284,000 after purchasing an additional 694 shares during the period. Parallel Advisors LLC increased its position in Western Union by 22.2% in the 1st quarter. Parallel Advisors LLC now owns 3,882 shares of the credit service provider worth $75,000 after purchasing an additional 705 shares during the period. Finally, Boyar Asset Management Inc. increased its position in Western Union by 2.6% during the 1st quarter. Boyar Asset Management Inc. now owns 39,030 shares of the credit service provider worth $731,000 after purchasing 993 additional shares during the period. Institutional investors hold 97.43% of the company’s shares.
Western Union stock performance
NYSE:WU opened at $16.46 on Tuesday. The stock’s 50-day simple moving average is $16.59 and its 200-day simple moving average is $17.69. The company has a market capitalization of $6.35 billion, a PE ratio of 7.38 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt ratio of 6.01. The Western Union Company has a 12-month low of $15.30 and a 12-month high of $22.55.
Western Union (NYSE:WU – Get Rating) last released quarterly earnings data on Wednesday, August 3. The credit services provider reported earnings per share of $0.51 for the quarter, beating the consensus estimate of $0.41 by $0.10. Western Union had a return on equity of 239.89% and a net margin of 18.27%. During the same period last year, the company achieved EPS of $0.48. On average, analysts expect The Western Union Company to post 1.8 EPS for the current fiscal year.
Western Union announces dividend
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 an annualized dividend of $0.94 and a yield of 5.71%. Western Union’s dividend payout ratio is currently 42.15%.
A Wall Street analyst gives his opinion
Several research companies have weighed in on WU. Goldman Sachs Group lowered its price target on Western Union from $18.00 to $15.50 and placed a “sell” rating on the stock in a Monday, August 8 research report. Citigroup downgraded Western Union from a “buy” rating to a “neutral” rating and set a target price of $20.00 for the stock. in a report on Friday, April 29. UBS Group cut its target price on Western Union from $19.00 to $18.00 and set a “neutral” rating on the stock in a Thursday, August 4, report. TheStreet downgraded Western Union from a “b-” rating to a “c+” rating in a Tuesday, July 12 report. Finally, JPMorgan Chase & Co. cut its target price on Western Union from $20.00 to $19.00 in a Friday, April 29 report. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.89.
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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