Verition Fund Management LLC decreased its position in shares of The Western Union Company (NYSE:WU) by 21.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,379 shares of the credit services provider’s stock after selling 2,597 shares during the period. Verition Fund Management LLC’s holdings in The Western Union were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in WU. Sandy Spring Bank purchased a new stake in The Western Union in the second quarter worth $40,000. Financial Management Professionals Inc. purchased a new stake in shares of The Western Union in the 2nd quarter valued at $57,000. CSat Investment Advisory L.P. grew its position in The Western Union by 20.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 2,940 shares of the credit services provider’s stock worth $64,000 after purchasing an additional 499 shares during the period. Belpointe Asset Management LLC purchased a new position in The Western Union during the second quarter valued at approximately $119,000. Finally, AIA Investment Management Private Ltd grew its stake in shares of The Western Union by 12.7% during the 1st quarter. AIA Investment Management Private Ltd now owns 6,841 shares of the credit services provider’s stock worth $124,000 after purchasing an additional 771 shares during the period.
A number of research analysts recently weighed in on WU shares. Royal Bank of Canada reaffirmed a “hold” rating and issued a $25.00 price target on shares of The Western Union in a research note on Thursday, August 6th. Deutsche Bank boosted their price target on shares of The Western Union from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Bank of America raised The Western Union from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday. Goldman Sachs Group began coverage on shares of The Western Union in a research note on Tuesday, July 14th. They issued a “sell” rating and a $22.00 price target on the stock. Finally, cut The Western Union from a “buy” rating to a “neutral” rating in a report on Wednesday, June 10th. Seven equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $23.16.
WU opened at $22.43 on Wednesday. The firm has a market cap of $9.22 billion, a P/E ratio of 15.47, a PEG ratio of 0.48 and a beta of 0.85. The business’s fifty day simple moving average is $23.40 and its 200 day simple moving average is $21.37. The Western Union Company has a 52 week low of $17.39 and a 52 week high of $28.44.
The Western Union (NYSE:WU) last issued its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The Western Union had a net margin of 12.38% and a negative return on equity of 1,029.12%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. On average, research analysts forecast that The Western Union Company will post 1.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, September 15th. The Western Union’s dividend payout ratio is presently 52.02%.
The Western Union Company Profile
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.
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