SummitTX Capital L.P. Has $4.19 Million Holdings in The Western Union Company $WU

SummitTX Capital L.P. lifted its position in The Western Union Company (NYSE:WU) by 86.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 480,458 shares of the credit services provider’s stock after acquiring an additional 223,154 shares during the quarter. SummitTX Capital L.P. owned approximately 0.15% of Western Union worth $4,194,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WU. RiverFront Investment Group LLC raised its stake in Western Union by 4.7% during the 4th quarter. RiverFront Investment Group LLC now owns 28,662 shares of the credit services provider’s stock valued at $267,000 after purchasing an additional 1,278 shares during the period. Fifth Third Bancorp boosted its position in shares of Western Union by 67.0% in the fourth quarter. Fifth Third Bancorp now owns 3,331 shares of the credit services provider’s stock worth $31,000 after buying an additional 1,336 shares during the period. Kelleher Financial Advisors grew its holdings in shares of Western Union by 16.0% during the fourth quarter. Kelleher Financial Advisors now owns 9,992 shares of the credit services provider’s stock valued at $93,000 after buying an additional 1,381 shares in the last quarter. Kestra Investment Management LLC raised its position in Western Union by 0.6% during the fourth quarter. Kestra Investment Management LLC now owns 239,428 shares of the credit services provider’s stock valued at $2,229,000 after buying an additional 1,398 shares during the period. Finally, PFG Investments LLC raised its position in Western Union by 6.6% during the first quarter. PFG Investments LLC now owns 23,382 shares of the credit services provider’s stock valued at $204,000 after buying an additional 1,454 shares during the period. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Price Performance

NYSE WU opened at $8.15 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.88. The stock has a market capitalization of $2.55 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46. The Western Union Company has a 12-month low of $6.91 and a 12-month high of $10.35. The company has a 50 day moving average price of $7.86 and a two-hundred day moving average price of $8.79.

Western Union (NYSE:WU) last announced its quarterly earnings results on Friday, April 24th. The credit services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.15). The business had revenue of $963.50 million for the quarter, compared to analyst estimates of $1.06 billion. Western Union had a return on equity of 55.94% and a net margin of 10.88%.The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 EPS. As a group, equities analysts predict that The Western Union Company will post 1.74 earnings per share for the current fiscal year.

Western Union Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Western Union’s dividend payout ratio is presently 69.12%.

Insiders Place Their Bets

In other Western Union news, insider Benjamin Carlton Adams sold 19,924 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $9.23, for a total value of $183,898.52. Following the completion of the sale, the insider owned 234,689 shares of the company’s stock, valued at $2,166,179.47. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings lowered Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 5th. Cantor Fitzgerald dropped their target price on Western Union from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, July 22nd. Citigroup reduced their price target on shares of Western Union from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Friday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of Western Union from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, July 13th. Finally, Barclays initiated coverage on shares of Western Union in a research note on Tuesday, July 7th. They issued an “underweight” rating and a $7.00 price objective on the stock. Six equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $8.35.

About Western Union

Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.