AE Wealth Management LLC lifted its stake in The Western Union Company (NYSE:WU) by 87.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,109 shares of the credit services provider’s stock after buying an additional 12,167 shares during the period. AE Wealth Management LLC’s holdings in The Western Union were worth $473,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of WU. Pinnacle Financial Partners Inc. acquired a new position in shares of The Western Union in the 4th quarter worth approximately $26,000. Allworth Financial LP increased its holdings in The Western Union by 198.2% during the 1st quarter. Allworth Financial LP now owns 1,646 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 1,094 shares in the last quarter. Ellevest Inc. acquired a new stake in The Western Union during the 1st quarter valued at $40,000. Procyon Private Wealth Partners LLC acquired a new stake in The Western Union during the 4th quarter valued at $48,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in The Western Union by 34.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,777 shares of the credit services provider’s stock valued at $74,000 after purchasing an additional 710 shares in the last quarter.
A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on The Western Union from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Bank of America upgraded The Western Union from an “underperform” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Thursday, April 2nd. ValuEngine lowered The Western Union from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. Credit Suisse Group raised their price target on The Western Union from $19.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. Finally, Susquehanna Bancshares restated a “hold” rating and issued a $26.00 price target on shares of The Western Union in a research report on Wednesday, February 12th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The Western Union has an average rating of “Hold” and a consensus price target of $21.71.
The Western Union (NYSE:WU) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The Western Union had a negative return on equity of 1,692.22% and a net margin of 20.64%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $0.39 earnings per share. The Western Union’s quarterly revenue was down 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Western Union Company will post 1.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Monday, June 15th. The Western Union’s payout ratio is currently 52.02%.
The Western Union Company 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 between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.
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