Toronto Dominion Bank increased its stake in shares of The Western Union Company (NYSE:WU – Get Rating) by 2.0% during the 1st quarter, according to the company in its latest Form 13F filing with the Securities & Exchange Commission. The institutional investor held 331,667 shares of the credit service provider after purchasing an additional 6,434 shares during the period. The Toronto Dominion Bank held 0.09% of Western Union worth $6,215,000 at the end of the last quarter.
Several other hedge funds and other institutional investors have also increased or reduced their stakes in WU. BlackRock Inc. increased its stake in Western Union by 17.2% during the fourth quarter. BlackRock Inc. now owns 60,702,355 shares of the credit service provider valued at $1,082,930,000 after buying an additional 8,905,368 shares last quarter. Schroder Investment Management Group increased its holdings in Western Union by 121.2% during the fourth quarter. Schroder Investment Management Group now owns 7,143,709 shares of the credit services provider valued at $127,444,000 after buying an additional 3,914,104 shares last quarter. Discerene Group LP increased its stake in Western Union by 138.6% during the fourth quarter. Discerene Group LP now owns 5,681,336 shares of the credit service provider valued at $101,355,000 after buying an additional 3,299,899 shares in the last quarter. Principal Financial Group Inc. increased its stake in Western Union by 162.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,429,917 shares of the credit service provider valued at $25,510,000 after purchasing an additional 885,273 shares last quarter. Finally, Squarepoint Ops LLC increased its stake in Western Union shares by 346.0% in the fourth quarter. Squarepoint Ops LLC now owns 1,088,945 shares of the credit service provider worth $19,427,000 after purchasing an additional 844,801 shares last quarter. 97.43% of the shares are held by hedge funds and other institutional investors.
Western Union price performance
Shares of WU opened at $16.69 on Monday. The Western Union Company has a 1-year low of $15.30 and a 1-year high of $22.59. The stock has a market capitalization of $6.44 billion, a PE ratio of 7.48 and a beta of 0.89. The company has a 50-day simple moving average of $16.61 and a two-hundred-day simple moving average of $17.71. The company has a debt ratio of 6.01, a current ratio of 0.99 and a quick ratio of 0.99.
Western Union (NYSE:WU – Get Rating) last reported quarterly results 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 net margin of 18.27% and a return on equity of 239.89%. In the same quarter a year earlier, the company earned earnings per share of $0.48. As a group, analysts expect The Western Union Company to post EPS of 1.8 for the current year.
Western Union announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Investors 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 5.63%. The ex-dividend date is Thursday, September 15. Western Union’s dividend payout ratio (DPR) is currently 42.15%.
Wall Street analysts predict growth
Several equity analysts have recently weighed in on the stock. UBS Group lowered its price target on Western Union shares from $19.00 to $18.00 and set a “neutral” rating on the stock in a Thursday, Aug. 4 research note. 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 lowered its price target on Western Union shares from $18.00 to $15.50 and placed a “sell” rating on the stock in a Monday, Aug. 8 research note. Morgan Stanley lowered its price target on Western Union shares from $15.00 to $14.00 and set an “underweight” rating on the stock in a Thursday, Aug. 4 research note. Finally, Wolfe Research downgraded Western Union shares from a “market performer” rating to an “underperformer” rating and lowered its price target for the stock from $20.00 to 17.00. $ in a research note from Wednesday, July 20. Five research analysts gave the stock a sell rating, eight gave the stock a hold rating and one gave the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.89.
About Western Union
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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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