Western Union Co. (WU) Stake Cut by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered its position in Western Union Co. (NYSE:WU) by 36.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,426,926 shares of the company’s stock after selling 832,355 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Western Union worth $27,367,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in WU. Norges Bank acquired a new position in shares of Western Union during the fourth quarter worth $95,384,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Western Union by 5.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 434,253 shares of the company’s stock worth $8,377,000 after buying an additional 21,374 shares during the period. DnB Asset Management AS increased its position in shares of Western Union by 228.6% in the first quarter. DnB Asset Management AS now owns 69,999 shares of the company’s stock worth $1,350,000 after buying an additional 48,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Western Union by 15.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 116,578 shares of the company’s stock worth $2,249,000 after buying an additional 15,702 shares during the period. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of Western Union by 7.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 122,204 shares of the company’s stock worth $2,357,000 after buying an additional 8,949 shares during the period.
Shares of Western Union Co. (NYSE:WU) traded up 0.40% on Thursday, hitting $20.27. 1,429,019 shares of the stock traded hands. Western Union Co. has a 52 week low of $16.02 and a 52 week high of $21.80. The stock has a 50-day moving average price of $20.99 and a 200 day moving average price of $19.84. The firm has a market cap of $9.89 billion, a P/E ratio of 12.20 and a beta of 1.16.
Western Union (NYSE:WU) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Western Union had a net margin of 15.33% and a return on equity of 63.02%. The firm earned $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm earned $0.41 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Western Union Co. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, September 14th. Western Union’s payout ratio is 38.55%.
A number of equities analysts have weighed in on WU shares. Zacks Investment Research downgraded Western Union from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Barclays PLC cut Western Union from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective for the company. in a report on Thursday, July 7th. Vetr upgraded Western Union from a “strong sell” rating to a “hold” rating and set a $19.20 price objective for the company in a report on Thursday, July 7th. 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, Citigroup Inc. boosted their price objective on Western Union from $15.50 to $17.00 and gave the stock a “sell” rating in a report on Thursday, August 4th. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. Western Union presently has a consensus rating of “Hold” and a consensus target price of $18.91.
In other news, CFO Rajesh K. Agrawal sold 9,263 shares of Western Union stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $21.50, for a total transaction of $199,154.50. Following the completion of the sale, the chief financial officer now directly owns 126,997 shares of the company’s stock, valued at approximately $2,730,435.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Betsy D. Holden sold 21,281 shares of Western Union stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $21.02, for a total transaction of $447,326.62. Following the sale, 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. 1.10% of the stock is currently owned by company insiders.
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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