Victory Capital Management Inc. reduced its holdings of The Western Union Company (NYSE: WU – Get Rating) stock by 50.0% during the 1st quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). ). The fund held 559,003 shares of the credit service provider after selling 557,912 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Western Union worth $9,369,000 at the end of the most recent reporting period.
Several other institutional investors have also recently changed their stake in the company. Commonwealth Equity Services LLC increased its position in Western Union shares by 48.7% during the first quarter. Commonwealth Equity Services LLC now owns 63,642 shares of the credit services provider valued at $1,192,000 after buying an additional 20,845 shares in the last quarter. Banque Pictet & Cie SA purchased a new equity stake in Western Union during the first quarter at a value of $403,000. Envestnet Asset Management Inc. increased its position in Western Union shares by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 766,138 shares of the credit service provider valued at $14,357,000 after buying an additional 33,000 shares in the last quarter. Versor Investments LP increased its position in Western Union shares by 332.5% during the first quarter. Versor Investments LP now owns 49,300 shares of the credit services provider valued at $924,000 after buying an additional 37,900 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Western Union shares by 1.1% during the first quarter. Arizona State Retirement System now owns 111,902 shares of the credit service provider valued at $2,097,000 after buying 1,268 additional shares in the last quarter. 97.43% of the shares are held by hedge funds and other institutional investors.
Western Union stock performance
Shares of WU opened at $16.37 on Monday. The company has a market capitalization of $6.32 billion, a P/E ratio of 7.34 and a beta of 0.89. The company’s 50-day moving average is $16.76 and its two-hundred-day moving average is $17.77. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt ratio of 6.01. The Western Union Company has a 12-month low of $15.30 and a 12-month high of $22.93.
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 the consensus estimate 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 quarter last year, the company earned earnings per share of $0.48. Analysts expect The Western Union Company to post EPS 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. 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 yield of 5.74%. The ex-dividend date is Thursday, September 15. Western Union’s payout rate is currently 42.15%.
Analysts set new price targets
Several equity research analysts have recently commented on the company. Wolfe Research downgraded Western Union from a ‘market performer’ rating to an ‘underperformer’ rating and lowered its price target for the company from $20.00 to $17.00 in a report research on Wednesday, July 20. TheStreet upgraded Western Union from a “b-” to a “c+” rating in a Tuesday, July 12 research report. UBS Group lowered its target price on Western Union from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup downgraded Western Union from a “buy” rating to a “neutral” rating and set a target price of $20.00 for the stock. in a research report on Friday, April 29. Finally, JPMorgan Chase & Co. lowered its target price on Western Union from $20.00 to $19.00 in a Friday, April 29 research report. Five research analysts gave the stock a sell rating, eight gave the company a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, Western Union has an average rating of “Hold” and a consensus price target of $19.23.
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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