Fort L.P. lessened its holdings in shares of The Western Union Company (NYSE:WU) by 8.0% during the 2nd quarter, Holdings Channel reports. The firm owned 1,210,785 shares of the credit services provider’s stock after selling 105,703 shares during the period. The Western Union comprises approximately 5.8% of Fort L.P.’s holdings, making the stock its 3rd biggest position. Fort L.P.’s holdings in The Western Union were worth $24,615,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in WU. Dupont Capital Management Corp raised its stake in The Western Union by 1,484.9% during the 1st quarter. Dupont Capital Management Corp now owns 31,555 shares of the credit services provider’s stock worth $607,000 after buying an additional 29,564 shares during the period. Sentry Investment Management LLC raised its stake in The Western Union by 13,123.4% during the 1st quarter. Sentry Investment Management LLC now owns 32,794 shares of the credit services provider’s stock worth $631,000 after buying an additional 32,546 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in The Western Union during the 1st quarter worth $323,000. Meeder Asset Management Inc. acquired a new stake in The Western Union during the 1st quarter worth $857,000. Finally, Boston Partners acquired a new stake in The Western Union during the 1st quarter worth $131,161,000.
Several analysts recently commented on WU shares. Zacks Investment Research raised The Western Union from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Saturday, July 7th. Royal Bank of Canada reissued a “hold” rating and issued a $21.00 price target on shares of The Western Union in a research note on Friday, August 3rd. ValuEngine downgraded The Western Union from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Wolfe Research initiated coverage on The Western Union in a research note on Tuesday, July 17th. They issued an “underperform” rating on the stock. Five analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.93.
WU opened at $18.96 on Friday. The Western Union Company has a 1 year low of $18.38 and a 1 year high of $22.21. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 2.39 and a beta of 0.97. The company has a debt-to-equity ratio of -7.38, a quick ratio of 0.86 and a current ratio of 0.86.
The Western Union (NYSE:WU) last released its quarterly earnings results 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 Western Union had a negative net margin of 8.05% and a negative return on equity of 560.31%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. analysts expect that The Western Union Company will post 1.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, September 13th. The Western Union’s dividend payout ratio is 42.22%.
In other news, EVP Sheri Rhodes sold 4,417 shares of the firm’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of $21.00, for a total value of $92,757.00. Following the completion of the transaction, the executive vice president now owns 55,824 shares in the company, valued at approximately $1,172,304. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard L. Williams sold 20,207 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 100,582 shares of the company’s stock, valued at approximately $2,061,931. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
The Western Union 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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