Discerene Group LP lowered its position in shares of The Western Union Company (NYSE:WU – Free Report) by 36.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,672,417 shares of the credit services provider’s stock after selling 2,133,333 shares during the period. Western Union makes up about 3.4% of Discerene Group LP’s investment portfolio, making the stock its 8th largest position. Discerene Group LP owned approximately 1.18% of Western Union worth $32,060,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Western Union during the 1st quarter valued at $11,698,000. Compound Planning Inc. lifted its holdings in Western Union by 31.3% in the 1st quarter. Compound Planning Inc. now owns 22,680 shares of the credit services provider’s stock worth $198,000 after buying an additional 5,408 shares in the last quarter. Sei Investments Co. boosted its position in Western Union by 5.4% in the 1st quarter. Sei Investments Co. now owns 915,992 shares of the credit services provider’s stock valued at $7,996,000 after buying an additional 46,720 shares during the last quarter. State of Wyoming acquired a new stake in shares of Western Union during the first quarter valued at about $64,000. Finally, Cetera Investment Advisers grew its stake in shares of Western Union by 9.8% during the first quarter. Cetera Investment Advisers now owns 225,206 shares of the credit services provider’s stock valued at $1,966,000 after acquiring an additional 20,190 shares in the last quarter. 91.81% of the stock is owned by institutional investors and hedge funds.
Western Union Stock Performance
Shares of WU stock opened at $8.22 on Friday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 6.05, a PEG ratio of 1.06 and a beta of 0.46. The Western Union Company has a one year low of $6.91 and a one year high of $10.35. The company’s 50-day simple moving average is $7.87 and its 200-day simple moving average is $8.81. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.11 and a current ratio of 1.11.
Western Union Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 11.4%. The ex-dividend date was Tuesday, June 16th. Western Union’s payout ratio is 69.12%.
Insider Activity at Western Union
In other Western Union news, insider Benjamin Carlton Adams sold 19,924 shares of the stock in a transaction 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 directly owned 234,689 shares of the company’s stock, valued at approximately $2,166,179.47. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $56,820.00. Following the completion of the transaction, the insider directly owned 311,292 shares of the company’s stock, valued at $2,947,935.24. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 3.29% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Cantor Fitzgerald cut their price target on Western Union from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Wednesday. Citigroup dropped their price objective on Western Union from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Friday, July 17th. Barclays began coverage on Western Union in a research report on Tuesday, July 7th. They issued an “underweight” rating and a $7.00 target price on the stock. Weiss Ratings downgraded shares of Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Western Union from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, July 13th. Six research 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, the company has an average rating of “Reduce” and an average target price of $8.35.
Check Out Our Latest Analysis on WU
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.
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