Wedge Capital Management L L P NC boosted its position in shares of The Western Union Company (NYSE:WU – Get Rating) by 13.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,598 shares of the credit services provider’s stock after purchasing an additional 2,234 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Western Union were worth $306,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. NuWave Investment Management LLC acquired a new position in Western Union during the second quarter valued at approximately $29,000. Riverview Trust Co boosted its holdings in shares of Western Union by 99.7% in the first quarter. Riverview Trust Co now owns 2,047 shares of the credit services provider’s stock valued at $38,000 after buying an additional 1,022 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Western Union by 22.2% in the first quarter. Parallel Advisors LLC now owns 3,882 shares of the credit services provider’s stock valued at $75,000 after buying an additional 705 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of Western Union in the first quarter valued at approximately $106,000. Finally, AIA Group Ltd boosted its holdings in shares of Western Union by 41.0% in the first quarter. AIA Group Ltd now owns 7,445 shares of the credit services provider’s stock valued at $140,000 after buying an additional 2,163 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on WU. Barclays reduced their price target on shares of Western Union to $17.00 in a report on Monday, August 15th. Northland Securities reduced their price target on shares of Western Union from $24.00 to $22.00 in a report on Thursday, August 4th. Wolfe Research cut shares of Western Union from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $20.00 to $17.00 in a report on Wednesday, July 20th. UBS Group reduced their price target on shares of Western Union from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, August 4th. Finally, TheStreet cut shares of Western Union from a “b-” rating to a “c+” rating in a report on Tuesday, July 12th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Western Union has an average rating of “Hold” and a consensus target price of $18.89.
Western Union Stock Performance
Western Union (NYSE:WU – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The credit services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.10. Western Union had a net margin of 18.27% and a return on equity of 239.89%. During the same quarter last year, the company earned $0.48 EPS. As a group, research analysts anticipate that The Western Union Company will post 1.8 EPS for the current year.
Western Union Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 6.62%. The ex-dividend date is Thursday, September 15th. Western Union’s dividend payout ratio (DPR) is currently 42.15%.
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 and sub-agents; and offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through websites and mobile devices.
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