Hsbc Holdings PLC increased its holdings in The Western Union Company (NYSE:WU – Free Report) by 221.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 520,789 shares of the credit services provider’s stock after purchasing an additional 358,877 shares during the period. Hsbc Holdings PLC’s holdings in Western Union were worth $4,851,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of WU. Wilmington Savings Fund Society FSB boosted its holdings in Western Union by 606.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 3,265 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 2,803 shares during the last quarter. Salomon & Ludwin LLC lifted its position in shares of Western Union by 1,546.5% in the 4th quarter. Salomon & Ludwin LLC now owns 3,326 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 3,124 shares during the period. Fifth Third Bancorp lifted its position in shares of Western Union by 67.0% in the 4th quarter. Fifth Third Bancorp now owns 3,331 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Western Union by 179.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,341 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 2,146 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Western Union by 164.9% in the 4th quarter. GAMMA Investing LLC now owns 3,581 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 2,229 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors and hedge funds.
Western Union Stock Performance
Shares of Western Union stock opened at $7.84 on Friday. The business has a 50-day simple moving average of $7.99 and a 200 day simple moving average of $8.88. The Western Union Company has a one year low of $6.91 and a one year high of $10.35. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 5.77, a PEG ratio of 0.98 and a beta of 0.46.
Western Union Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.94 annualized dividend and a dividend yield of 12.0%. Western Union’s payout ratio is presently 69.12%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 5th. Barclays started coverage on Western Union in a report on Tuesday. They set an “underweight” rating and a $7.00 price target for the company. Seven analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Western Union presently has a consensus rating of “Reduce” and a consensus price target of $8.73.
Read Our Latest Research Report on Western Union
Insider Activity
In related news, insider Benjamin Carlton Adams sold 19,924 shares of Western Union stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $9.23, for a total transaction of $183,898.52. Following the transaction, the insider owned 234,689 shares of the company’s stock, valued at $2,166,179.47. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Giovanni Angelini sold 6,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $9.47, for a total transaction of $56,820.00. Following the completion of the sale, the insider owned 311,292 shares of the company’s stock, valued at approximately $2,947,935.24. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.29% of the company’s stock.
Western Union Company Profile
Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.
Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.
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