CIBC Asset Management Inc reduced its stake in shares of The Western Union Company (NYSE:WU – Get Rating) by 4.2% during the 1st quarter, according to the company in its latest Form 13F filed with the Securities & Exchange Commission. The institutional investor held 19,404 shares of the credit service provider after selling 861 shares during the quarter. The holdings of CIBC Asset Management Inc. in Western Union were worth $364,000 when it was last filed with the SEC.
Other hedge funds have also recently changed their holdings in the company. CWM LLC acquired a new position in Western Union in Q4 worth approximately $30,000. Riverview Trust Co increased its 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 purchasing an additional 1,022 shares during the period. First Horizon Advisors Inc. increased its stake in Western Union by 61.1% in the 4th quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit services provider worth $47,000 after purchasing 1,016 additional shares during the period. UMB Bank NA MO acquired a new position in Western Union in Q4 worth approximately $49,000. Finally, Norwood Financial Corp acquired a new position in Western Union in Q4 worth approximately $51,000. Institutional investors and hedge funds own 97.43% of the company’s shares.
Analysts set new price targets
Several stock analysts have recently weighed in on the stock. Goldman Sachs Group cut its price target on Western Union shares from $18.00 to $15.50 and placed a “sell” rating on the stock in a report on Monday. Morgan Stanley lowered its price target on Western Union from $15.00 to $14.00 and set an “underweight” rating on the stock in a Thursday, Aug. 4 research report. Northland Securities lowered its price target on Western Union from $24.00 to $22.00 in a Thursday, August 4 research report. JPMorgan Chase & Co. lowered its price target on Western Union from $20.00 to $19.00 in a Friday, April 29 research report. Finally, TheStreet downgraded Western Union from a “b-” rating to a “c+” rating in a Tuesday, July 12 research report. Five investment analysts gave the stock a sell rating, eight gave the company a hold rating and one gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.89.
Western Union trades up 0.6%
Shares of WU opened at $16.29 on Wednesday. The stock’s fifty-day moving average is $16.68 and its two-hundred-day moving average is $17.74. The company has a debt ratio of 6.01, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $6.28 billion, a P/E ratio of 7.30 and a beta of 0.89. The Western Union Company has a fifty-two week minimum of $15.30 and a fifty-two week maximum of $22.80.
Western Union (NYSE:WU – Get Rating) last reported quarterly earnings data on Wednesday, August 3. The credit services provider reported earnings per share of $0.51 for the quarter, beating consensus analyst estimates 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 posted EPS of $0.48. Research analysts expect The Western Union Company to post earnings per share of 1.8 for the current fiscal year.
Western Union Dividend Announcement
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. This represents a dividend of $0.94 on an annualized basis and a dividend yield of 5.77%. The ex-dividend date is Thursday, September 15. Western Union’s dividend payout ratio (DPR) 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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