TSP Capital Management Group LLC raised its holdings in shares of The Western Union Company (NYSE:WU – Free Report) by 209.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,091,864 shares of the credit services provider’s stock after purchasing an additional 738,789 shares during the quarter. Western Union accounts for approximately 2.3% of TSP Capital Management Group LLC’s portfolio, making the stock its 18th largest position. TSP Capital Management Group LLC owned about 0.35% of Western Union worth $9,532,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in Western Union by 11,759.8% in the 4th quarter. SG Americas Securities LLC now owns 7,954,045 shares of the credit services provider’s stock valued at $74,052,000 after acquiring an additional 7,886,978 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Western Union by 401.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,604,026 shares of the credit services provider’s stock worth $70,793,000 after purchasing an additional 6,087,613 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Western Union by 821.1% in the second quarter. Qube Research & Technologies Ltd now owns 4,170,343 shares of the credit services provider’s stock worth $35,114,000 after purchasing an additional 3,717,589 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Western Union by 28.0% in the third quarter. Schroder Investment Management Group now owns 16,948,328 shares of the credit services provider’s stock worth $135,417,000 after purchasing an additional 3,708,291 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Western Union by 3,370.2% in the fourth quarter. Marshall Wace LLP now owns 3,740,849 shares of the credit services provider’s stock valued at $34,827,000 after purchasing an additional 3,633,049 shares in 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 $7.83 on Thursday. The business’s fifty day simple moving average is $8.15 and its 200 day simple moving average is $8.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.88. The Western Union Company has a 12 month low of $6.91 and a 12 month high of $10.35. The firm has a market capitalization of $2.45 billion, a P/E ratio of 5.76, a price-to-earnings-growth ratio of 0.98 and a beta of 0.46.
Western Union Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Western Union’s payout ratio is 69.12%.
Insider Activity at Western Union
In other news, insider Giovanni Angelini sold 6,000 shares of Western Union stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $9.47, for a total value of $56,820.00. Following the completion of the transaction, the insider owned 311,292 shares in the company, valued at $2,947,935.24. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin Carlton Adams sold 19,924 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $9.23, for a total transaction of $183,898.52. Following the sale, the insider owned 234,689 shares in the company, valued at $2,166,179.47. The trade was a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.29% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 5th. Seven research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Western Union has an average rating of “Reduce” and a consensus price target of $8.82.
Read Our Latest Stock Analysis on Western Union
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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