The Western Union Company (NYSE:WU) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in The Western Union Company (NYSE:WU) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 737,609 shares of the credit services provider’s stock after selling 54,106 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Western Union were worth $7,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Foundry Partners LLC acquired a new stake in shares of Western Union during the third quarter worth approximately $8,124,000. Kingsview Wealth Management LLC grew its position in Western Union by 293.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 198,002 shares of the credit services provider’s stock worth $2,362,000 after purchasing an additional 147,658 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Western Union by 20.0% in the third quarter. JPMorgan Chase & Co. now owns 1,698,559 shares of the credit services provider’s stock valued at $20,264,000 after purchasing an additional 283,479 shares during the period. Citigroup Inc. raised its holdings in shares of Western Union by 19.0% during the third quarter. Citigroup Inc. now owns 523,676 shares of the credit services provider’s stock valued at $6,247,000 after buying an additional 83,715 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Western Union during the third quarter worth approximately $734,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Price Performance

WU opened at $10.84 on Wednesday. The stock has a fifty day moving average price of $10.55 and a 200 day moving average price of $11.15. The Western Union Company has a 1 year low of $10.04 and a 1 year high of $14.19. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 3.04. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 3.97, a PEG ratio of 1.54 and a beta of 0.85.

Western Union (NYSE:WU) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Western Union had a return on equity of 96.90% and a net margin of 22.19%. Analysts forecast that The Western Union Company will post 1.8 EPS for the current fiscal year.

Western Union announced that its board has authorized a stock buyback plan on Friday, December 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the credit services provider to reacquire up to 27.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Western Union Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.235 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.94 annualized dividend and a dividend yield of 8.67%. Western Union’s dividend payout ratio is 34.43%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays lowered their target price on Western Union from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th. StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods decreased their target price on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, December 9th. Susquehanna lowered their price objective on shares of Western Union from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Morgan Stanley lowered their price objective on shares of Western Union from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.11.

About Western Union

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.