Bank of Nova Scotia Sells 19,826 Shares of The Western Union Company (NYSE:WU)

Bank of Nova Scotia decreased its stake in The Western Union Company (NYSE:WUGet Rating) by 20.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 76,838 shares of the credit services provider’s stock after selling 19,826 shares during the quarter. Bank of Nova Scotia’s holdings in Western Union were worth $1,265,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Parallel Advisors LLC grew its holdings in shares of Western Union by 17.1% in the 2nd quarter. Parallel Advisors LLC now owns 4,544 shares of the credit services provider’s stock valued at $75,000 after acquiring an additional 662 shares in the last quarter. Oxbow Advisors LLC lifted its stake in Western Union by 0.4% in the 1st quarter. Oxbow Advisors LLC now owns 188,768 shares of the credit services provider’s stock valued at $3,538,000 after purchasing an additional 686 shares during the last quarter. Texas Permanent School Fund lifted its stake in Western Union by 0.3% in the 2nd quarter. Texas Permanent School Fund now owns 279,924 shares of the credit services provider’s stock valued at $4,610,000 after purchasing an additional 738 shares during the last quarter. Ellevest Inc. lifted its stake in Western Union by 148.6% in the 2nd quarter. Ellevest Inc. now owns 1,932 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,155 shares during the last quarter. Finally, National Asset Management Inc. lifted its stake in Western Union by 5.1% in the 1st quarter. National Asset Management Inc. now owns 23,893 shares of the credit services provider’s stock valued at $448,000 after purchasing an additional 1,158 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Northland Securities cut their price objective on shares of Western Union from $24.00 to $22.00 in a research report on Thursday, August 4th. Susquehanna Bancshares cut their price objective on shares of Western Union from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. Barclays cut their price objective on shares of Western Union from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Sunday, November 6th. The Goldman Sachs Group cut their price objective on shares of Western Union from $18.00 to $15.50 and set a “sell” rating for the company in a research report on Monday, August 8th. Finally, UBS Group downgraded shares of Western Union from a “neutral” rating to a “sell” rating and set a $12.00 price target for the company. in a research report on Friday, October 28th. Eight equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, Western Union presently has a consensus rating of “Reduce” and an average target price of $14.88.

Western Union Stock Performance

NYSE WU opened at $13.89 on Friday. The firm’s fifty day moving average price is $13.80 and its two-hundred day moving average price is $15.59. The stock has a market cap of $5.36 billion, a PE ratio of 6.58 and a beta of 0.87. The Western Union Company has a fifty-two week low of $12.27 and a fifty-two week high of $20.40. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.98 and a current ratio of 0.98.

Insiders Place Their Bets

In related news, Chairman Jeffrey A. Joerres bought 7,745 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were purchased at an average price of $12.84 per share, with a total value of $99,445.80. Following the completion of the purchase, the chairman now owns 167,337 shares in the company, valued at approximately $2,148,607.08. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.41% of the company’s stock.

About Western Union

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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.

See Also

Want to see what other hedge funds are holding WU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Western Union Company (NYSE:WUGet Rating).

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

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