The Bank of Nova Scotia increases its equity holding in The Western Union Company (NYSE:WU)


The Bank of Nova Scotia increased its position in shares of The Western Union Company (NYSE:WU – Get Rating) by 19.1% during the 1st quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). ). The institutional investor held 96,664 shares of the credit service provider after acquiring an additional 15,484 shares during the period. The Bank of Nova Scotia’s holdings in Western Union were worth $1,814,000 when it was last filed with the Securities and Exchange Commission (SEC).

Other hedge funds also changed their holdings in the company. CWM LLC bought a new stake in shares of Western Union during the 4th quarter for a value of approximately $30,000. Riverview Trust Co increased its stake in Western Union to 99.7% during the 1st quarter. Riverview Trust Co now owns 2,047 shares of the credit service provider valued at $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% during the 4th quarter. First Horizon Advisors Inc. now owns 2,680 shares of the credit service provider valued at $47,000 after purchasing an additional 1,016 shares during the period. UMB Bank NA MO bought a new stake in Western Union during Q4, valued at $49,000. Finally, Norwood Financial Corp acquired a new stake in Western Union during the 4th quarter for a value of $51,000. 97.43% of the shares are held by hedge funds and other institutional investors.

A Wall Street analyst gives his opinion

Several stock analysts have commented on the company. Morgan Stanley cut 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. Citigroup downgraded Western Union from a “buy” rating to a “neutral” rating and set a price target of $20.00 on the stock. in a research report on Friday, April 29. TheStreet downgraded Western Union from a “b-” rating to a “c+” rating in a Tuesday, July 12 research report. Barclays lowered its price target on Western Union to $17.00 in a research report on Monday. Finally, Wolfe Research downgraded Western Union from a “market performing” rating to an “underperforming” rating and lowered its price target for the stock from $20.00 to $17.00 in a Wednesday, July 20 research report. Five research analysts gave the stock a sell rating, eight gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.89.

Western Union trades down 3.0%

Western Union stock opened at $16.02 on Thursday. The stock has a 50-day moving average of $16.52 and a 200-day moving average of $17.67. The company has a debt ratio of 6.01, a quick ratio of 0.99 and a current ratio of 0.99. The Western Union Company has a one-year low of $15.30 and a one-year high of $22.32. The stock has a market capitalization of $6.18 billion, a PE ratio of 7.18 and a beta of 0.89.

Western Union (NYSE:WU – Get Rating) last released its quarterly results on Wednesday, August 3. The credit services provider reported EPS 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%. In the same period a year earlier, the company earned earnings per share of $0.48. On average, 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 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 an annualized dividend of $0.94 and a dividend yield of 5.87%. The ex-dividend date is Thursday, September 15. Western Union’s payout rate is 42.15%.

Western Union 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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Institutional ownership by quarter for Western Union (NYSE:WU)



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