Envestnet Asset Management Inc. Raises Stake in The Western Union Company (NYSE:WU)

Envestnet Asset Management Inc. boosted its holdings in shares of The Western Union Company (NYSE:WUGet Rating) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 766,138 shares of the credit services provider’s stock after acquiring an additional 33,000 shares during the period. Envestnet Asset Management Inc. owned 0.20% of Western Union worth $14,357,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WU. National Bank of Canada FI purchased a new position in Western Union during the 4th quarter valued at about $49,000. Janney Montgomery Scott LLC increased its stake in Western Union by 75.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 122,090 shares of the credit services provider’s stock valued at $2,178,000 after purchasing an additional 52,677 shares in the last quarter. Bessemer Group Inc. increased its stake in Western Union by 29.6% during the 4th quarter. Bessemer Group Inc. now owns 6,050 shares of the credit services provider’s stock valued at $108,000 after purchasing an additional 1,381 shares in the last quarter. National Asset Management Inc. bought a new stake in Western Union during the 4th quarter valued at about $406,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Western Union during the 4th quarter valued at about $7,599,000. 97.43% of the stock is owned by hedge funds and other institutional investors.

Western Union Price Performance

Shares of NYSE:WU opened at $16.25 on Friday. The company has a debt-to-equity ratio of 7.18, a current ratio of 0.98 and a quick ratio of 0.98. The Western Union Company has a 1-year low of $15.30 and a 1-year high of $22.93. The company has a market capitalization of $6.27 billion, a P/E ratio of 7.16 and a beta of 0.89. The firm’s 50 day simple moving average is $16.79 and its two-hundred day simple moving average is $17.79.

Western Union (NYSE:WUGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The credit services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.10. Western Union had a net margin of 18.29% and a return on equity of 269.10%. During the same quarter in the prior year, the company earned $0.48 EPS. Research analysts expect that The Western Union Company will post 1.8 EPS for the current fiscal year.

Western Union Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend is Thursday, September 15th. Western Union’s dividend payout ratio (DPR) is presently 41.41%.

Analysts Set New Price Targets

A number of analysts have weighed in on WU shares. JPMorgan Chase & Co. reduced their price objective on shares of Western Union from $20.00 to $19.00 in a research note on Friday, April 29th. TheStreet lowered shares of Western Union from a “b-” rating to a “c+” rating in a research note on Tuesday, July 12th. Morgan Stanley reduced their price target on shares of Western Union from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of Western Union in a research note on Tuesday, May 17th. They issued a “sell” rating and a $18.00 price target for the company. Finally, Wolfe Research lowered shares of Western Union from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $20.00 to $17.00 in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.23.

Western Union Company Profile

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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 and sub-agents; and offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through websites and mobile devices.

Further Reading

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Institutional Ownership by Quarter for Western Union (NYSE:WU)

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