Profund Advisors LLC increased its holdings in The Western Union Company (NYSE:WU – Get Rating) by 23.1% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 24,630 shares of the credit service provider after acquiring an additional 4,625 shares during the period. Profund Advisors LLC’s holdings in Western Union were worth $462,000 at the end of the last quarter.
Several other major investors have also changed their position in the company. Riverview Trust Co increased its stake in Western Union by 99.7% during the first quarter. Riverview Trust Co now owns 2,047 shares of the credit service provider worth $38,000 after buying an additional 1,022 shares last quarter. First Horizon Advisors Inc. increased its holdings in Western Union by 61.1% during the fourth quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit services provider worth $47,000 after buying 1,016 additional shares last quarter. UMB Bank NA MO bought a new stake in Western Union during the fourth quarter worth $49,000. Norwood Financial Corp bought a new stake in Western Union during the fourth quarter worth $51,000. Finally, Geneos Wealth Management Inc. increased its stake in Western Union by 239.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the credit services provider worth $61,000 after buying 2,419 additional shares last quarter. 97.43% of the shares are held by hedge funds and other institutional investors.
Changes to analyst ratings
A number of analysts have recently released reports on WU shares. Morgan Stanley lowered its price target on Western Union shares from $15.00 to $14.00 and set an “underweight” rating on the stock in a Thursday, Aug. 4, report. JPMorgan Chase & Co. cut its price target on Western Union shares from $20.00 to $19.00 in a Friday, April 29 report. Wolfe Research downgraded Western Union shares from a “market performer” rating to an “underperformer” rating and lowered its price target for the company from $20.00 to $17.00 in a report of Wednesday July 20. Barclays lowered its price target on Western Union shares to $17.00 in a Monday August 15 report. Finally, TheStreet downgraded Western Union shares from a “b-” rating to a “c+” rating in a Tuesday, July 12 report. Five research analysts have assigned the stock a sell rating, eight have issued a hold rating and one has assigned the stock a buy rating. According to data from MarketBeat.com, Western Union has a consensus rating of “Hold” and an average price target of $18.89.
Western Union price performance
Western Union stock opened Wednesday at $15.84. The Western Union Company has a 12-month low of $15.30 and a 12-month high of $21.97. The stock has a market capitalization of $6.11 billion, a P/E ratio of 7.10 and a beta of 0.89. The company has a 50-day moving average price of $16.48 and a 200-day moving average price of $17.61. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt ratio of 6.01.
Western Union (NYSE:WU – Get Rating) last released quarterly earnings data on Wednesday, August 3. The credit service provider reported earnings per share (EPS) of $0.51 for the quarter, beating the consensus estimate of $0.41 by $0.10. Western Union achieved a net margin of 18.27% and a return on equity of 239.89%. In the same quarter of the previous year, the company had earned earnings per share of $0.48. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Friday, September 16 will receive a dividend of $0.235 per share. This represents an annualized dividend of $0.94 and a yield of 5.93%. The ex-dividend date is Thursday, September 15. Western Union’s payout rate is currently 42.15%.
Western Union Company 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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