Alberta Investment Management Corp reduced its position in The Western Union Company (NYSE:WU) by 77.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 343,200 shares of the credit services provider’s stock after selling 1,162,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.08% of The Western Union worth $6,222,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Spectrum Management Group LLC boosted its holdings in The Western Union by 105.7% in the first quarter. Spectrum Management Group LLC now owns 121,450 shares of the credit services provider’s stock valued at $2,202,000 after acquiring an additional 62,400 shares in the last quarter. Swiss National Bank boosted its position in shares of The Western Union by 14.0% during the 1st quarter. Swiss National Bank now owns 3,549,694 shares of the credit services provider’s stock valued at $64,356,000 after acquiring an additional 435,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of The Western Union by 6.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 240,380 shares of the credit services provider’s stock valued at $4,358,000 after acquiring an additional 13,735 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in shares of The Western Union during the 1st quarter valued at approximately $281,000. Finally, Cetera Investment Advisers bought a new position in shares of The Western Union during the 1st quarter valued at approximately $616,000.
WU stock opened at $18.89 on Friday. The business’s fifty day simple moving average is $19.12 and its two-hundred day simple moving average is $24.02. The Western Union Company has a twelve month low of $17.39 and a twelve month high of $28.44. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.44 and a beta of 0.89.
The Western Union (NYSE:WU) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The Western Union had a negative return on equity of 1,692.22% and a net margin of 20.64%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The business’s revenue was down 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Western Union Company will post 1.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Monday, June 15th. The Western Union’s payout ratio is 52.02%.
Several analysts recently weighed in on WU shares. Keefe, Bruyette & Woods increased their price target on The Western Union from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. BTIG Research restated a “buy” rating and set a $28.00 price target on shares of The Western Union in a report on Thursday. Wells Fargo & Co lowered The Western Union from an “equal weight” rating to an “underweight” rating in a report on Sunday, April 19th. Northland Securities decreased their price target on The Western Union from $17.00 to $15.00 and set a “market perform” rating on the stock in a report on Monday, March 30th. Finally, Credit Suisse Group increased their price target on The Western Union from $19.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, May 6th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $21.71.
About The Western Union
The Western Union Company provides money movement 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. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.
Further Reading: Circuit Breakers
Want to see what other hedge funds are holding WU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Western Union Company (NYSE:WU).
Receive News & Ratings for The Western Union Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Western Union and related companies with MarketBeat.com's FREE daily email newsletter.