DNB Asset Management AS increased its stake in The Western Union Company (NYSE:WU – Get Rating) by 15.8% during the first quarter, HoldingsChannel reports. The institutional investor held 143,289 shares of the credit service provider after purchasing an additional 19,566 shares during the quarter. DNB Asset Management AS’s holdings in Western Union were worth $2,685,000 at the end of the last quarter.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Denali Advisors LLC acquired a new position in Western Union in the fourth quarter worth approximately $25,000. CWM LLC purchased a new stake in Western Union during the fourth quarter worth approximately $30,000. Spire Wealth Management bought a new stake in Western Union during the fourth quarter worth about $42,000. 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 services provider worth $48,000 after purchasing an additional 2,004 shares during the period. Finally, Carroll Financial Associates Inc. increased its stake in Western Union by 3,208.6% during the fourth quarter. Carroll Financial Associates Inc. now owns 2,680 shares of the credit service provider worth $47,000 after buying 2,599 additional shares during the period. 97.43% of the shares are currently held by institutional investors.
NYSE:WU shares opened at $16.69 on Friday. The Western Union Company has a 1-year low of $15.30 and a 1-year high of $23.68. The company has a debt ratio of 7.18, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $6.44 billion, a P/E ratio of 7.25 and a beta of 0.91. The company has a fifty-day moving average price of $17.47 and a 200-day moving average price of $18.09.
Western Union (NYSE:WU – Get Rating) last released quarterly earnings data 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. The company posted revenue of $1.16 billion for the quarter, compared to analysts’ estimates of $1.16 billion. Western Union had a net margin of 18.29% and a return on equity of 269.10%. Western Union’s quarterly revenue was down 4.5% year over year. In the same period a year earlier, the company posted earnings per share of $0.44. Sell-side analysts expect The Western Union Company to post EPS of 1.8 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Thursday, June 16 will receive a dividend of $0.235. The ex-date of this dividend is Wednesday, June 15. This represents a dividend of $0.94 on an annualized basis and a yield of 5.63%. Western Union’s dividend payout ratio is currently 41.41%.
A number of analysts have released reports on the stock. JPMorgan Chase & Co. cut its price target on Western Union shares from $20.00 to $19.00 in a Friday, April 29 research note. Goldman Sachs Group assumed coverage for Western Union shares in a research note on Tuesday, May 17. They set a “sell” rating and a target price of $18.00 on the stock. Morgan Stanley reworded a “sell” rating and set a target price of $15.50 on Western Union shares in a Friday, March 11 research note. StockNews.com picked up coverage of Western Union stocks in a Thursday, March 31 research note. They have placed a “holding” rating on the stock. Finally, Wolfe Research reaffirmed a “hold” rating and set a target price of $21.00 on Western Union shares in a Friday, March 25 research note. Four equity research analysts gave the stock a sell rating, nine issued a hold rating and one gave the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.96.
Western Union profile (Get an assessment)
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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