ING Groep NV Cuts Stake in Western Union Co. (WU)
ING Groep NV reduced its position in shares of Western Union Co. (NYSE:WU) by 31.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,831 shares of the company’s stock after selling 10,608 shares during the period. ING Groep NV’s holdings in Western Union were worth $438,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capstone Asset Management Co. boosted its position in Western Union by 0.4% in the second quarter. Capstone Asset Management Co. now owns 43,012 shares of the company’s stock valued at $825,000 after buying an additional 166 shares during the period. Cypress Capital Group boosted its position in Western Union by 0.8% in the first quarter. Cypress Capital Group now owns 24,904 shares of the company’s stock valued at $480,000 after buying an additional 188 shares during the period. Candriam Luxembourg S.C.A. boosted its position in Western Union by 0.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 48,295 shares of the company’s stock valued at $926,000 after buying an additional 192 shares during the period. Conning Inc. boosted its position in Western Union by 4.2% in the second quarter. Conning Inc. now owns 12,739 shares of the company’s stock valued at $244,000 after buying an additional 510 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in Western Union by 11.4% in the second quarter. Checchi Capital Advisers LLC now owns 5,642 shares of the company’s stock valued at $108,000 after buying an additional 577 shares during the period.
Shares of Western Union Co. (NYSE:WU) traded down 0.64% during trading on Monday, hitting $20.29. The stock had a trading volume of 2,088,869 shares. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 12.21 and a beta of 1.19. Western Union Co. has a one year low of $16.02 and a one year high of $21.80. The stock’s 50-day moving average price is $20.83 and its 200 day moving average price is $19.95.
Western Union (NYSE:WU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Western Union Co. will post $1.65 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Wednesday, September 14th. Western Union’s payout ratio is presently 38.55%.
Several analysts recently weighed in on the company. Barclays PLC boosted their price objective on Western Union from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, August 4th. Zacks Investment Research raised 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 company a “hold” rating in a report on Friday, August 5th. BTIG Research reissued a “buy” rating and issued a $23.00 price objective on shares of Western Union in a report on Monday, August 1st. Finally, Vetr lowered Western Union from a “sell” rating to a “strong sell” rating and set a $19.20 price objective for the company. in a report on Monday, August 29th. Eight research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.91.
In related news, CFO Rajesh K. Agrawal sold 9,263 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $21.50, for a total value of $199,154.50. Following the completion of the sale, the chief financial officer now owns 126,997 shares in the company, valued at $2,730,435.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Miles sold 21,281 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $20.37, for a total transaction of $433,493.97. Following the completion of the sale, the director now owns 126,819 shares of the company’s stock, valued at approximately $2,583,303.03. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate 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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