JPMorgan Chase & Co. Increases Western Union (NYSE:WU) Price Target to $14.00

Western Union (NYSE:WU) had its price objective increased by analysts at JPMorgan Chase & Co. from $13.00 to $14.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 3.97% from the company’s previous close.

A number of other equities research analysts have also issued reports on WU. BMO Capital Markets increased their price objective on shares of Western Union from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th. Monness Crespi & Hardt began coverage on Western Union in a research report on Wednesday, March 20th. They issued a “neutral” rating for the company. Wolfe Research restated an “underperform” rating on shares of Western Union in a research report on Thursday, January 4th. William Blair reiterated a “market perform” rating on shares of Western Union in a research report on Wednesday, February 7th. Finally, Evercore ISI raised their target price on shares of Western Union from $14.00 to $15.00 and gave the stock an “in-line” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.45.

Western Union Price Performance

Shares of NYSE:WU opened at $13.47 on Thursday. The firm’s 50 day moving average price is $13.43 and its 200-day moving average price is $12.62. Western Union has a twelve month low of $10.37 and a twelve month high of $14.19. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 5.23. The stock has a market capitalization of $4.58 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 5.00 and a beta of 0.85.

Western Union (NYSE:WU) last released its earnings results on Wednesday, April 24th. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Western Union had a net margin of 14.12% and a return on equity of 111.53%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. Equities research analysts expect that Western Union will post 1.68 EPS for the current year.

Insider Transactions at Western Union

In related news, Director Timothy P. Murphy purchased 10,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $12.85 per share, for a total transaction of $128,500.00. Following the purchase, the director now owns 56,205 shares of the company’s stock, valued at approximately $722,234.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Western Union

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC raised its position in shares of Western Union by 969.5% in the third quarter. Hsbc Holdings PLC now owns 765,613 shares of the credit services provider’s stock worth $10,192,000 after acquiring an additional 694,026 shares during the period. Invesco Ltd. grew its stake in Western Union by 11.9% during the 3rd quarter. Invesco Ltd. now owns 2,299,090 shares of the credit services provider’s stock valued at $30,302,000 after acquiring an additional 244,286 shares in the last quarter. Sigma Planning Corp purchased a new stake in Western Union in the 3rd quarter valued at $527,000. Mirae Asset Global Investments Co. Ltd. increased its position in Western Union by 7.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,160,429 shares of the credit services provider’s stock worth $15,294,000 after purchasing an additional 83,842 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Western Union by 8.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,528,570 shares of the credit services provider’s stock worth $30,141,000 after buying an additional 188,462 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Company Profile

The Western Union Company provides money movement and payment services worldwide. The company operates through Consumer Money Transfer and Consumer Services segments. The Consumer Money Transfer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.