Canada Pension Plan Investment Board raised its holdings in The Western Union Company (NYSE:WU) by 8.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,164,310 shares of the credit services provider’s stock after acquiring an additional 91,200 shares during the quarter. Canada Pension Plan Investment Board’s holdings in The Western Union were worth $23,670,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can purchased a new position in The Western Union in the 2nd quarter valued at approximately $82,670,000. Addison Capital Co purchased a new position in The Western Union in the 2nd quarter valued at approximately $612,000. Great West Life Assurance Co. Can boosted its position in The Western Union by 74.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 984,022 shares of the credit services provider’s stock valued at $18,921,000 after buying an additional 420,011 shares during the period. Fisher Asset Management LLC purchased a new position in The Western Union in the 2nd quarter valued at approximately $354,000. Finally, Visionary Asset Management Inc. purchased a new stake in shares of The Western Union during the 2nd quarter worth $2,665,000.
In related news, EVP Richard L. Williams sold 20,207 shares of the business’s stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $20.50, for a total value of $414,243.50. Following the completion of the sale, the executive vice president now directly owns 100,582 shares of the company’s stock, valued at $2,061,931. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Odilon Almeida sold 81,008 shares of the business’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $21.00, for a total transaction of $1,701,168.00. Following the completion of the sale, the executive vice president now directly owns 227,597 shares of the company’s stock, valued at $4,779,537. The disclosure for this sale can be found here. Over the last three months, insiders sold 105,632 shares of company stock valued at $2,208,169. 1.10% of the stock is owned by corporate insiders.
Several equities research analysts have recently issued reports on WU shares. Zacks Investment Research raised shares of The Western Union from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Saturday, July 7th. Royal Bank of Canada reaffirmed a “hold” rating and set a $21.00 price objective on shares of The Western Union in a research report on Friday, August 3rd. ValuEngine cut shares of The Western Union from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, Wolfe Research started coverage on shares of The Western Union in a research report on Tuesday, July 17th. They set an “underperform” rating for the company. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $18.93.
The Western Union stock opened at $18.89 on Wednesday. The firm has a market cap of $8.46 billion, a PE ratio of 10.49, a PEG ratio of 2.39 and a beta of 1.00. The Western Union Company has a 12-month low of $18.38 and a 12-month high of $22.21. The company has a debt-to-equity ratio of -7.38, a current ratio of 0.86 and a quick ratio of 0.86.
The Western Union (NYSE:WU) last released its quarterly earnings data on Thursday, August 2nd. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.01). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. The Western Union had a negative return on equity of 560.31% and a negative net margin of 8.05%. The Western Union’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. sell-side analysts forecast that The Western Union Company will post 1.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.76 dividend on an annualized basis and a yield of 4.02%. The Western Union’s dividend payout ratio (DPR) is presently 42.22%.
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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