Ritholtz Wealth Management lowered its position in shares of The Western Union Company (NYSE:WU – Free Report) by 39.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,525 shares of the credit services provider’s stock after selling 8,859 shares during the period. Ritholtz Wealth Management’s holdings in Western Union were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Western Union by 8.3% during the third quarter. Vanguard Group Inc. now owns 45,774,680 shares of the credit services provider’s stock worth $617,958,000 after purchasing an additional 3,522,420 shares in the last quarter. State Street Corp raised its holdings in shares of Western Union by 10.4% in the 1st quarter. State Street Corp now owns 16,856,481 shares of the credit services provider’s stock valued at $315,890,000 after buying an additional 1,592,331 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Western Union by 70.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 16,078,188 shares of the credit services provider’s stock valued at $179,111,000 after acquiring an additional 6,638,884 shares during the period. Charles Schwab Investment Management Inc. grew its position in Western Union by 10.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,663,089 shares of the credit services provider’s stock valued at $119,291,000 after acquiring an additional 842,308 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Western Union by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 7,752,550 shares of the credit services provider’s stock worth $106,880,000 after purchasing an additional 19,868 shares during the period. Hedge funds and other institutional investors own 88.83% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Western Union from $12.00 to $13.00 in a report on Thursday, July 27th. StockNews.com started coverage on Western Union in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Citigroup lifted their target price on Western Union from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Monday, July 24th. Truist Financial upped their price target on Western Union from $10.00 to $13.00 in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on Western Union from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Five research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.81.
Western Union Trading Down 2.0 %
NYSE:WU opened at $13.18 on Friday. The company has a market capitalization of $4.94 billion, a PE ratio of 6.69, a P/E/G ratio of 4.12 and a beta of 0.86. The Western Union Company has a 52-week low of $10.07 and a 52-week high of $14.84. The stock’s 50 day moving average price is $12.36 and its 200 day moving average price is $11.79. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 4.49.
Western Union (NYSE:WU – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. Western Union had a net margin of 17.12% and a return on equity of 116.87%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business posted $0.51 earnings per share. Western Union’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts anticipate that The Western Union Company will post 1.71 EPS for the current year.
Western Union Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Thursday, September 14th. Western Union’s dividend payout ratio (DPR) is presently 47.72%.
Western Union Profile
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.
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