Kinneret Advisory LLC acquired a new stake in shares of The Western Union Company (NYSE:WU) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,549 shares of the credit services provider’s stock, valued at approximately $197,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of The Western Union by 11.2% during the fourth quarter. BlackRock Inc. now owns 46,384,514 shares of the credit services provider’s stock valued at $791,319,000 after purchasing an additional 4,686,559 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of The Western Union by 53,019.7% during the third quarter. Bank of New York Mellon Corp now owns 29,221,152 shares of the credit services provider’s stock valued at $556,956,000 after purchasing an additional 29,166,142 shares in the last quarter. Lyrical Asset Management LP raised its stake in shares of The Western Union by 6.5% during the third quarter. Lyrical Asset Management LP now owns 13,200,987 shares of the credit services provider’s stock valued at $251,611,000 after purchasing an additional 809,286 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of The Western Union by 83.4% during the third quarter. Jupiter Asset Management Ltd. now owns 11,775,000 shares of the credit services provider’s stock valued at $224,432,000 after purchasing an additional 5,353,000 shares in the last quarter. Finally, Clarkston Capital Partners LLC raised its stake in shares of The Western Union by 3.0% during the fourth quarter. Clarkston Capital Partners LLC now owns 10,711,700 shares of the credit services provider’s stock valued at $182,742,000 after purchasing an additional 308,324 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
A number of brokerages recently weighed in on WU. Zacks Investment Research upgraded shares of The Western Union from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Saturday, December 1st. ValuEngine cut shares of The Western Union from a “hold” rating to a “sell” rating in a research note on Friday, February 15th. Finally, Keefe, Bruyette & Woods assumed coverage on The Western Union in a report on Thursday, December 6th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $20.00.
In related news, CFO Rajesh K. Agrawal sold 21,950 shares of The Western Union stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $18.35, for a total transaction of $402,782.50. Following the transaction, the chief financial officer now directly owns 266,009 shares of the company’s stock, valued at $4,881,265.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.
NYSE:WU opened at $18.19 on Friday. The stock has a market cap of $7.92 billion, a P/E ratio of 9.47, a PEG ratio of 2.68 and a beta of 0.90. The Western Union Company has a 52-week low of $16.42 and a 52-week high of $21.37.
The Western Union (NYSE:WU) last released its earnings results on Thursday, February 7th. The credit services provider reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. The Western Union had a negative return on equity of 225.33% and a net margin of 15.24%. The Western Union’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. Analysts anticipate that The Western Union Company will post 1.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a dividend of $0.20 per share. This is a positive change from The Western Union’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, March 14th. The Western Union’s payout ratio is presently 39.58%.
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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.
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