Healthcare of Ontario Pension Plan Trust Fund Purchases New Position in The Western Union Company $WU

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in The Western Union Company (NYSE:WU) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 1,340,000 shares of the credit services provider’s stock, valued at approximately $11,698,000.

Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in shares of Western Union by 35.3% in the fourth quarter. Capital Research Global Investors now owns 10,407,960 shares of the credit services provider’s stock valued at $96,898,000 after purchasing an additional 2,716,385 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Western Union by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 34,471,400 shares of the credit services provider’s stock worth $320,929,000 after buying an additional 1,171,810 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Western Union by 52.6% during the 1st quarter. Bessemer Group Inc. now owns 520,779 shares of the credit services provider’s stock worth $4,547,000 after buying an additional 179,423 shares in the last quarter. Hsbc Holdings PLC boosted its position in Western Union by 221.6% in the 4th quarter. Hsbc Holdings PLC now owns 520,789 shares of the credit services provider’s stock valued at $4,851,000 after buying an additional 358,877 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Western Union in the 4th quarter valued at $3,234,000. 91.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Western Union

In other news, insider Benjamin Carlton Adams sold 19,924 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $9.23, for a total value of $183,898.52. Following the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.29% of the stock is currently owned by insiders.

Western Union Price Performance

Shares of WU stock opened at $8.27 on Wednesday. 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 $2.58 billion, a price-to-earnings ratio of 6.08, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.88. The firm has a fifty day moving average of $7.86 and a 200-day moving average of $8.78.

Western Union Dividend Announcement

The business also recently disclosed 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 11.4%. Western Union’s dividend payout ratio is currently 69.12%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WU shares. Citigroup decreased their price target 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 shares of Western Union in a research report on Tuesday, July 7th. They set an “underweight” rating and a $7.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Western Union from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, July 13th. Cantor Fitzgerald lowered 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 report on Wednesday, July 22nd. Finally, Weiss Ratings cut shares of Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 5th. Five equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $8.64.

About Western Union

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.