Parthenon LLC Reduces Stake in Western Union Co. (WU)
Parthenon LLC lowered its stake in shares of Western Union Co. (NYSE:WU) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 190,290 shares of the company’s stock after selling 17,900 shares during the period. Parthenon LLC’s holdings in Western Union were worth $3,650,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Western Union during the fourth quarter worth $95,384,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Western Union during the first quarter worth $41,883,000. PGGM Investments raised its position in shares of Western Union by 452.0% in the second quarter. PGGM Investments now owns 1,908,009 shares of the company’s stock worth $36,596,000 after buying an additional 1,562,332 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Western Union during the second quarter worth $23,153,000. Finally, Chubb Ltd. purchased a new position in shares of Western Union during the first quarter worth $13,503,000.
Shares of Western Union Co. (NYSE:WU) traded up 1.82% during mid-day trading on Wednesday, reaching $20.19. 3,202,694 shares of the company’s stock traded hands. The company’s 50 day moving average is $20.97 and its 200 day moving average is $19.83. Western Union Co. has a 12-month low of $16.02 and a 12-month high of $21.80. The company has a market cap of $9.85 billion, a P/E ratio of 12.15 and a beta of 1.16.
Western Union (NYSE:WU) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The business earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Western Union had a net margin of 15.33% and a return on equity of 63.02%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, analysts predict that Western Union Co. will post $1.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.64 annualized dividend and a dividend yield of 3.17%. Western Union’s dividend payout ratio (DPR) is presently 38.55%.
A number of equities research analysts have commented on WU shares. Vetr downgraded shares of Western Union from a “hold” rating to a “sell” rating and set a $19.20 target price for the company. in a research report on Wednesday, July 13th. Barclays PLC downgraded shares of Western Union from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a research report on Thursday, July 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $17.00 target price on shares of Western Union in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded shares of Western Union from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Monness Crespi & Hardt downgraded shares of Western Union from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a research report on Thursday, September 8th. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.91.
In related 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 transaction of $5,942,253.04. Following the sale, the insider now owns 407,285 shares in the company, valued at $8,764,773.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 sale, the director now owns 93,826 shares in the company, valued at approximately $1,972,222.52. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Western Union Company Profile
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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