Abrams Capital Management L.P. continued to hold its position in Western Union Company (The) (NYSE:WU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,608,707 shares of the credit services provider’s stock at the end of the second quarter. Western Union Company (The) comprises about 16.4% of Abrams Capital Management L.P.’s portfolio, making the stock its largest position. Abrams Capital Management L.P. owned about 4.59% of Western Union Company (The) worth $411,646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new position in shares of Western Union Company (The) during the second quarter valued at about $121,000. Financial Architects Inc grew its stake in shares of Western Union Company (The) by 2.1% during the second quarter. Financial Architects Inc now owns 6,951 shares of the credit services provider’s stock valued at $132,000 after buying an additional 144 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Western Union Company (The) by 3.1% during the second quarter. IFP Advisors Inc now owns 7,836 shares of the credit services provider’s stock valued at $149,000 after buying an additional 239 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Western Union Company (The) by 3.1% during the first quarter. Pacer Advisors Inc. now owns 7,482 shares of the credit services provider’s stock valued at $152,000 after buying an additional 224 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Western Union Company (The) by 6.8% during the first quarter. Van ECK Associates Corp now owns 7,521 shares of the credit services provider’s stock valued at $153,000 after buying an additional 477 shares during the last quarter.

In related news, EVP John David Thompson sold 23,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $20.12, for a total transaction of $472,820.00. Following the transaction, the executive vice president now directly owns 129,650 shares in the company, valued at approximately $2,608,558. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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Western Union Company (The) (NYSE:WU) last issued its quarterly earnings results on Thursday, August 3rd. The credit services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.42 by $0.08. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Western Union Company (The) had a net margin of 3.50% and a return on equity of 92.41%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.70 annualized dividend and a yield of 3.69%. Western Union Company (The)’s payout ratio is 179.49%.

A number of research analysts have recently issued reports on WU shares. BidaskClub cut Western Union Company (The) from a “hold” rating to a “sell” rating in a research note on Friday, June 9th. ValuEngine lowered shares of Western Union Company (The) from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Barclays PLC increased their target price on shares of Western Union Company (The) from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Friday, August 4th. Mizuho began coverage on shares of Western Union Company (The) in a report on Tuesday, June 27th. They set an “underperform” rating and a $16.00 target price for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $20.00 target price (up from $19.00) on shares of Western Union Company (The) in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Western Union Company (The) has an average rating of “Hold” and an average target price of $20.56.

Western Union Company (The) 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. The Company’s Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents.

Institutional Ownership by Quarter for Western Union Company (The) (NYSE:WU)

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