AGF Investments Inc. reduced its holdings of The Western Union Company (NYSE:WU – Get Rating) stock by 38.7% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The company held 12,831 shares of the credit service provider after selling 8,113 shares during the period. AGF Investments Inc.’s holdings in Western Union were worth $240,000 when it last filed with the SEC.
A number of other major investors have also recently bought and sold shares of the company. Hightower 6M Holding LLC acquired a new stake in Western Union during Q1 valued at $211,000. TTP Investments Inc. bought a new position in Western Union during Q1 worth $241,000. Van ECK Associates Corp increased its position in Western Union by 9.5% in the first quarter. Van ECK Associates Corp now owns 10,386,720 shares of the credit service provider worth $194,647,000 after buying an additional 898,992 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Western Union during Q1 worth $296,000. Finally, NewSquare Capital LLC increased its position in Western Union by 14.2% in the 1st quarter. NewSquare Capital LLC now owns 182,846 shares of the credit services provider worth $3,427,000 after purchasing an additional 22,681 shares in the last quarter. Institutional investors and hedge funds own 97.43% of the company’s shares.
A Wall Street analyst gives his opinion
A number of brokerages have commented on WU. JPMorgan Chase & Co. cut its price target on Western Union shares from $20.00 to $19.00 in a Friday, April 29 research report. Citigroup downgraded Western Union shares from a “buy” rating to a “neutral” rating and set a price target of $20.00 for the company. in a report on Friday, April 29. Northland Securities cut its price target on Western Union shares from $24.00 to $22.00 in a Thursday, Aug. 4, report. Morgan Stanley cut its price target on Western Union shares from $15.00 to $14.00 and set an “underweight” rating for the company in a Thursday, Aug. 4, report. Finally, Goldman Sachs Group cut its price target on Western Union shares from $18.00 to $15.50 and set a “sell” rating for the company in a Monday, Aug. 8 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 data from MarketBeat.com, Western Union currently has an average rating of “Hold” and a consensus price target of $18.89.
Western Union price performance
NYSE WU shares opened at $16.43 on Friday. The Western Union Company has a 52 week minimum of $15.30 and a 52 week maximum of $21.97. The stock has a market capitalization of $6.34 billion, a price-earnings ratio of 7.37 and a beta of 0.89. The company’s 50-day moving average price is $16.49 and its 200-day moving average price is $17.63. 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 its quarterly results 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 had a net margin of 18.27% and a return on equity of 239.89%. In the same quarter a year earlier, the company posted EPS of $0.48. As a group, research analysts expect The Western Union Company to post 1.8 earnings per share 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. The ex-dividend date is Thursday, September 15. This represents an annualized dividend of $0.94 and a dividend yield of 5.72%. Western Union’s dividend payout ratio is currently 42.15%.
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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