Pictet Asset Management SA Decreases Position in The Western Union Company (NYSE:WU)

Pictet Asset Management SA cut its stake in shares of The Western Union Company (NYSE:WUGet Rating) by 36.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,595 shares of the credit services provider’s stock after selling 106,292 shares during the period. Pictet Asset Management SA’s holdings in Western Union were worth $3,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in Western Union by 17.1% in the second quarter. Parallel Advisors LLC now owns 4,544 shares of the credit services provider’s stock worth $75,000 after purchasing an additional 662 shares in the last quarter. Oxbow Advisors LLC grew its stake in Western Union by 0.4% in the first quarter. Oxbow Advisors LLC now owns 188,768 shares of the credit services provider’s stock worth $3,538,000 after purchasing an additional 686 shares in the last quarter. Texas Permanent School Fund grew its stake in Western Union by 0.3% in the second quarter. Texas Permanent School Fund now owns 279,924 shares of the credit services provider’s stock worth $4,610,000 after purchasing an additional 738 shares in the last quarter. Ellevest Inc. boosted its position in Western Union by 148.6% during the 2nd quarter. Ellevest Inc. now owns 1,932 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 1,155 shares in the last quarter. Finally, National Asset Management Inc. boosted its position in Western Union by 5.1% during the 1st quarter. National Asset Management Inc. now owns 23,893 shares of the credit services provider’s stock valued at $448,000 after acquiring an additional 1,158 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WU. Northland Securities decreased their price objective on Western Union from $24.00 to $22.00 in a report on Thursday, August 4th. Credit Suisse Group reduced their target price on Western Union from $16.00 to $14.00 and set an “underperform” rating for the company in a research note on Friday, October 21st. StockNews.com initiated coverage on Western Union in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Truist Financial reduced their target price on Western Union from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, October 21st. Finally, JPMorgan Chase & Co. reduced their target price on Western Union from $18.00 to $14.00 and set an “underweight” rating for the company in a research note on Friday, October 21st. Eight investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Western Union has a consensus rating of “Reduce” and a consensus price target of $14.88.

Western Union Trading Down 0.3 %

WU stock opened at $13.89 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 4.94. The business’s 50-day moving average is $13.80 and its 200 day moving average is $15.56. The Western Union Company has a 12-month low of $12.27 and a 12-month high of $20.40. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 6.58 and a beta of 0.87.

Insiders Place Their Bets

In other Western Union news, Chairman Jeffrey A. Joerres bought 7,745 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were acquired at an average cost of $12.84 per share, with a total value of $99,445.80. Following the purchase, the chairman now directly owns 167,337 shares of the company’s stock, valued at approximately $2,148,607.08. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.

Read More

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

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