Rhumbline Advisers Sells 23,433 Shares of The Western Union Company (NYSE:WU)

Posted by Defense World Staff on Sep 2nd, 2023

Rhumbline Advisers decreased its holdings in The Western Union Company (NYSE:WU – Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,207,009 shares of the credit services provider’s stock after selling 23,433 shares during the period. Rhumbline Advisers owned about 0.32% of Western Union worth $13,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Western Union by 8.3% in the third quarter. Vanguard Group Inc. now owns 45,774,680 shares of the credit services provider’s stock worth $617,958,000 after buying an additional 3,522,420 shares in the last quarter. State Street Corp grew its holdings in Western Union by 10.4% in the first quarter. State Street Corp now owns 16,856,481 shares of the credit services provider’s stock worth $315,890,000 after purchasing an additional 1,592,331 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Western Union by 70.3% in the first quarter. Jupiter Asset Management Ltd. now owns 16,078,188 shares of the credit services provider’s stock worth $179,111,000 after purchasing an additional 6,638,884 shares during the last quarter. Van ECK Associates Corp grew its holdings in Western Union by 13.7% in the fourth quarter. Van ECK Associates Corp now owns 12,529,073 shares of the credit services provider’s stock worth $172,525,000 after purchasing an additional 1,509,663 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Western Union by 10.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,663,089 shares of the credit services provider’s stock worth $119,291,000 after purchasing an additional 842,308 shares during the last quarter. Institutional investors own 88.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on WU shares. StockNews.com started coverage on shares of Western Union in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Western Union from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Truist Financial lifted their price target on shares of Western Union from $10.00 to $13.00 in a report on Thursday, July 27th. JPMorgan Chase & Co. boosted their price objective on shares of Western Union from $12.00 to $13.00 in a report on Thursday, July 27th. Finally, Citigroup boosted their price objective on shares of Western Union from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Monday, July 24th. Five research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.81.

View Our Latest Stock Analysis on Western Union

Western Union Price Performance

NYSE:WU opened at $12.49 on Friday. The Western Union Company has a one year low of $10.07 and a one year high of $15.44. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 3.84 and a beta of 0.86. The firm’s fifty day moving average is $11.94 and its two-hundred day moving average is $11.79.

Western Union (NYSE:WU – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.05 billion. Western Union had a net margin of 17.12% and a return on equity of 116.87%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Research analysts expect that The Western Union Company will post 1.71 EPS for the current year.

Western Union Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.235 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.53%. Western Union’s dividend payout ratio (DPR) is currently 47.72%.

Western Union Company Profile

(Free Report)

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 for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.