Redwood Investment Management LLC purchased a new stake in shares of The Western Union Company (NYSE:WU – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 284,875 shares of the credit services provider’s stock, valued at approximately $2,194,000.
A number of other institutional investors also recently bought and sold shares of WU. Wilmington Savings Fund Society FSB boosted its stake in Western Union by 606.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 3,265 shares of the credit services provider’s stock worth $26,000 after buying an additional 2,803 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of Western Union in the first quarter valued at $30,000. Fifth Third Bancorp raised its stake in shares of Western Union by 67.0% in the fourth quarter. Fifth Third Bancorp now owns 3,331 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings 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 worth $31,000 after acquiring an additional 2,146 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of Western Union during the 3rd quarter worth about $37,000. 91.81% of the stock is currently owned by institutional investors.
Western Union Stock Performance
WU stock opened at $7.27 on Thursday. The Western Union Company has a 1-year low of $6.27 and a 1-year high of $10.35. The business has a 50-day moving average price of $7.61 and a 200 day moving average price of $8.45. The company has a market capitalization of $2.27 billion, a P/E ratio of 5.91 and a beta of 0.47. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.12 and a quick ratio of 1.12.
Western Union Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Western Union’s dividend payout ratio (DPR) is presently 76.42%.
Wall Street Analysts Forecast Growth
WU has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Western Union from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Weiss Ratings raised Western Union from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Royal Bank Of Canada reduced their price target on Western Union from $9.00 to $8.00 and set a “sector perform” rating on the stock in a report on Friday, July 31st. Barclays decreased their price target on Western Union from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Friday, July 31st. Finally, Monness Crespi & Hardt restated a “sell” rating and set a $6.00 price objective on shares of Western Union in a report on Friday, July 31st. Six research analysts have rated the stock with a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Strong Sell” and an average price target of $7.55.
Western Union 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.
See Also
- Five stocks we like better than Western Union
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding WU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Western Union Company (NYSE:WU – Free Report).
Receive News & Ratings for Western Union Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Union and related companies with MarketBeat.com's FREE daily email newsletter.
