DekaBank Deutsche Girozentrale reduced its position in The Western Union Company (NYSE:WU – Get Rating) by 62.7% in Q1, reports Holdings Channel.com. The fund held 103,007 shares of the credit service provider after selling 173,019 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Western Union were worth $1,981,000 when it last filed with the Securities and Exchange Commission.
Several other large investors also changed their stake in the company. Spire Wealth Management purchased a new equity stake in Western Union during the fourth quarter worth approximately $42,000. Parallel Advisors LLC increased its stake in Western Union shares by 548.4% during the fourth quarter. Parallel Advisors LLC now owns 3,177 shares of the credit service provider worth $57,000 after buying 2,687 additional shares in the last quarter. Retirement Systems of Alabama increased its stake in Western Union shares by 277.2% during the fourth quarter. Retirement Systems of Alabama now owns 526,419 shares of the credit service provider worth $9,391,000 after purchasing an additional 386,875 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Western Union shares by 9.1% during the fourth quarter. Russell Investments Group Ltd. now owns 846,721 shares of the credit service provider worth $15,112,000 after purchasing an additional 70,317 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Western Union shares by 297.3% during the fourth quarter. Allworth Financial LP now owns 2,678 shares of the credit services provider worth $48,000 after buying 2,004 more shares in the last quarter. 97.43% of the shares are held by institutional investors and hedge funds.
Western Union shares down 0.8%
WU opened at $16.77 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt ratio of 7.18. The company has a market capitalization of $6.47 billion, a P/E ratio of 7.39 and a beta of 0.91. The Western Union Company has a 52 week minimum of $15.30 and a 52 week maximum of $23.49. The company’s 50-day simple moving average is $16.88 and its 200-day simple moving average is $17.92.
Western Union (NYSE:WU – Get Rating) last released its quarterly results on Thursday, April 28. The credit services provider reported earnings per share (EPS) of $0.51 for the quarter, beating analysts’ consensus estimate of $0.44 by $0.07. Western Union had a return on equity of 269.10% and a net margin of 18.29%. The company posted revenue of $1.16 billion for the quarter, compared to analysts’ estimates of $1.16 billion. During the same period last year, the company achieved EPS of $0.44. The company’s quarterly revenue was down 4.5% year over year. As a group, equity research analysts expect The Western Union Company to post EPS of 1.8 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. This represents a dividend of $0.94 on an annualized basis and a yield of 5.61%. The ex-dividend date is Thursday, September 15. Western Union’s payout rate is 41.41%.
Analyst upgrades and downgrades
Several research companies have published reports on WU. TheStreet upgraded Western Union from a “b-” to a “c+” rating in a Tuesday, July 12 research report. JPMorgan Chase & Co. cut its price target on Western Union from $20.00 to $19.00 in a Friday, April 29 research report. Citigroup downgraded Western Union from a “buy” rating to a “neutral” rating and set a price target of $20.00 for the company. in a research report on Friday, April 29. UBS Group began covering Western Union in a research report on Thursday, March 31. They issued a “neutral” rating and a price target of $19.00 for the company. Finally, Wolfe Research downgraded Western Union from a “market performance” rating to an “underperform” rating and lowered its price target for the stock from $20.00 to $17.00 in a research report Wednesday. Five analysts rated the stock with a sell rating, eight gave a hold rating and one issued a buy rating for the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.65.
Western Union 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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