Ellevest Inc. Decreases Stake in The Western Union Company (NYSE:WU)

Posted by on Apr 29th, 2023

Ellevest Inc. cut its holdings in The Western Union Company (NYSE:WU – Get Rating) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,716 shares of the credit services provider’s stock after selling 2,557 shares during the period. Ellevest Inc.’s holdings in Western Union were worth $37,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Western Union by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 45,774,680 shares of the credit services provider’s stock valued at $617,958,000 after purchasing an additional 3,522,420 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Western Union by 13,546.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,401,454 shares of the credit services provider’s stock worth $32,419,000 after purchasing an additional 2,383,856 shares in the last quarter. Marshall Wace LLP increased its position in Western Union by 125.1% during the 3rd quarter. Marshall Wace LLP now owns 3,952,387 shares of the credit services provider’s stock worth $53,357,000 after purchasing an additional 2,196,323 shares in the last quarter. State Street Corp raised its stake in shares of Western Union by 10.4% during the first quarter. State Street Corp now owns 16,856,481 shares of the credit services provider’s stock valued at $315,890,000 after purchasing an additional 1,592,331 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Western Union during the first quarter valued at approximately $26,384,000. 97.66% of the stock is currently owned by hedge funds and other institutional investors.

Western Union Trading Up 1.4 %

Shares of WU opened at $10.93 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 5.48. The Western Union Company has a 12-month low of $10.07 and a 12-month high of $18.23. The firm has a market capitalization of $4.09 billion, a PE ratio of 4.67 and a beta of 0.85. The stock’s fifty day simple moving average is $11.46 and its 200-day simple moving average is $13.08.

Western Union (NYSE:WU – Get Rating) last released its earnings results on Tuesday, February 7th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Western Union had a net margin of 20.35% and a return on equity of 151.54%. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, research analysts predict that The Western Union Company will post 1.59 earnings per share for the current year.

Western Union Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were paid a $0.235 dividend. The ex-dividend date was Thursday, March 16th. This represents a $0.94 dividend on an annualized basis and a yield of 8.60%. Western Union’s dividend payout ratio is 40.17%.

Analyst Upgrades and Downgrades

WU has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on shares of Western Union from $12.50 to $11.00 and set a “sell” rating for the company in a research report on Thursday, April 13th. Barclays reduced their price target on shares of Western Union from $13.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, March 13th. Wolfe Research upgraded shares of Western Union from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 20th. Keefe, Bruyette & Woods cut their price objective on shares of Western Union from $15.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 11th. Finally, StockNews.com assumed coverage on shares of Western Union in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.90.

Western Union Profile

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The Western Union Co is a holding company, which engages in the provision of money transfer and payment services. It operates through the following segments: Consumer-to-Consumer, Business Solutions, and Other. The Consumer-to-Consumer segment facilitates money transfers between two consumers. The Business Solutions segment offers payment and foreign exchange solutions, cross-border, and cross-currency transactions for small and medium size enterprises and other organizations and individuals.

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

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