Truist Financial Corp lessened its stake in The Western Union Company (NYSE:WU – Get Rating) by 26.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,892 shares of the credit services provider’s stock after selling 15,993 shares during the quarter. Truist Financial Corp’s holdings in Western Union were worth $606,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of WU. Field & Main Bank bought a new stake in shares of Western Union in the second quarter valued at $25,000. MV Capital Management Inc. raised its stake in Western Union by 460.8% in the 3rd quarter. MV Capital Management Inc. now owns 1,929 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 1,585 shares during the period. Ellevest Inc. lifted its holdings in Western Union by 148.6% during the second 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. NuWave Investment Management LLC lifted its holdings in Western Union by 49.8% during the third quarter. NuWave Investment Management LLC now owns 2,608 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 867 shares during the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Western Union in the third quarter worth about $35,000. 97.66% of the stock is owned by institutional investors.
Western Union Stock Performance
NYSE WU opened at $14.19 on Monday. The Western Union Company has a 52-week low of $12.27 and a 52-week high of $20.40. The company has a fifty day moving average of $14.03 and a 200-day moving average of $14.63. The company has a market capitalization of $5.48 billion, a P/E ratio of 6.73 and a beta of 0.88. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.98 and a current ratio of 0.98.
Western Union Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Monday, December 19th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Friday, December 16th. Western Union’s dividend payout ratio (DPR) is presently 44.55%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on WU shares. Susquehanna Bancshares dropped their price target on shares of Western Union from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, October 21st. Susquehanna cut their price target on Western Union from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, October 21st. Truist Financial reduced their price target on Western Union from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, October 21st. Citigroup dropped their price objective on Western Union from $14.00 to $13.50 in a report on Friday, October 21st. Finally, 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 report on Friday, October 21st. Seven investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Western Union has an average rating of “Hold” and a consensus price target of $14.30.
Insider Transactions at Western Union
In other Western Union news, Chairman Jeffrey A. Joerres bought 7,745 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were bought at an average price of $12.84 per share, for a total transaction of $99,445.80. Following the transaction, the chairman now directly owns 167,337 shares in the company, valued at $2,148,607.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.41% of the company’s stock.
About 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 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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