Western Union Co. (WU) Sees Large Volume Increase
Shares of Western Union Co. (NYSE:WU) saw strong trading volume on Wednesday . 3,415,713 shares traded hands during trading, a decline of 2% from the previous session’s volume of 3,470,195 shares.The stock last traded at $21.59 and had previously closed at $21.37.
A number of equities research analysts have recently issued reports on the company. Barclays PLC boosted their price objective on Western Union from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, August 4th. Zacks Investment Research upgraded Western Union from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Jefferies Group boosted their price objective on Western Union from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, August 5th. BTIG Research restated a “buy” rating and set a $23.00 price objective on shares of Western Union in a report on Monday, August 1st. Finally, Vetr upgraded Western Union from a “sell” rating to a “hold” rating and set a $19.20 price objective for the company in a report on Tuesday, August 2nd. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.91.
The company has a market capitalization of $10.59 billion and a P/E ratio of 13.07. The stock has a 50-day moving average of $20.48 and a 200 day moving average of $19.46.
Western Union (NYSE:WU) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. During the same period last year, the business posted $0.41 earnings per share. The business earned $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Western Union Co. will post $1.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, September 14th.
In other Western Union news, insider Hikmet Ersek sold 276,127 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $21.52, for a total value of $5,942,253.04. Following the completion of the transaction, the insider now directly owns 407,285 shares of the company’s stock, valued at approximately $8,764,773.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Betsy D. Holden sold 21,281 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $21.02, for a total transaction of $447,326.62. Following the completion of the transaction, the director now directly owns 93,826 shares of the company’s stock, valued at $1,972,222.52. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Western Union by 13.6% in the fourth quarter. Morgan Stanley now owns 980,636 shares of the company’s stock valued at $17,563,000 after buying an additional 117,688 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Western Union by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 765,462 shares of the company’s stock valued at $13,709,000 after buying an additional 7,815 shares during the last quarter. KBC Group NV increased its position in shares of Western Union by 23.3% in the fourth quarter. KBC Group NV now owns 384,432 shares of the company’s stock valued at $6,885,000 after buying an additional 72,769 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Western Union by 32.2% in the fourth quarter. State of Tennessee Treasury Department now owns 293,689 shares of the company’s stock valued at $5,260,000 after buying an additional 71,479 shares during the last quarter.
The Western Union Company (Western Union) is a provider of money movement and payment services. The Company operates through three segments: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. Western Union’s Consumer-to-Consumer segment is engaged in individual money transfers from one consumer to another.
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