Parthenon LLC Reduces Stake in Western Union Co. (WU)
Parthenon LLC lowered its position in Western Union Co. (NYSE:WU) by 8.6% during the second quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Torray LLC increased its position in shares of Western Union by 0.7% in the first quarter. Torray LLC now owns 496,182 shares of the company’s stock valued at $9,571,000 after buying an additional 3,475 shares during the last quarter. Virginia Retirement System acquired a new position in shares of Western Union during the first quarter worth about $7,322,000. Nisa Investment Advisors L.L.C. increased its position in shares of Western Union by 161.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 115,751 shares of the company’s stock worth $2,233,000 after buying an additional 71,500 shares in the last quarter. Aperio Group LLC increased its position in shares of Western Union by 30.2% in the first quarter. Aperio Group LLC now owns 155,947 shares of the company’s stock worth $3,008,000 after buying an additional 36,196 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its position in shares of Western Union by 5.5% in the first quarter. Commonwealth Equity Services Inc now owns 45,457 shares of the company’s stock worth $877,000 after buying an additional 2,372 shares in the last quarter.
Shares of Western Union Co. (NYSE:WU) traded up 1.82% during trading on Wednesday, reaching $20.19. The company’s stock had a trading volume of 3,202,694 shares. The firm’s 50-day moving average price is $20.97 and its 200-day moving average price is $19.83. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 12.15 and a beta of 1.16. Western Union Co. has a one year low of $16.02 and a one year high of $21.80.
Western Union (NYSE:WU) last released its earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share (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 analyst estimates of $1.38 billion. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that Western Union Co. will post $1.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.64 annualized dividend and a dividend yield of 3.17%. Western Union’s payout ratio is 38.55%.
A number of research firms recently weighed in on WU. Barclays PLC upped their price target on Western Union from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, August 4th. Zacks Investment Research raised Western Union from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Jefferies Group upped their price target on Western Union from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. BTIG Research reaffirmed a “buy” rating and set a $23.00 price target on shares of Western Union in a research note on Monday, August 1st. Finally, Vetr downgraded Western Union from a “sell” rating to a “strong sell” rating and set a $19.20 price target on the stock. in a research note on Monday, August 29th. Eight investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.91.
In other news, EVP Odilon Almeida sold 18,064 shares of Western Union stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $21.57, for a total transaction of $389,640.48. Following the completion of the transaction, the executive vice president now directly owns 72,560 shares in the company, valued at $1,565,119.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Betsy D. Holden sold 21,281 shares of Western Union stock in a transaction that occurred 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 transaction, the director now owns 93,826 shares of the company’s stock, valued at $1,972,222.52. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
About Western Union
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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