97,455 Shares in The Western Union Company (NYSE:WU) Purchased by Jennison Associates LLC
Jennison Associates LLC acquired a new stake in shares of The Western Union Company (NYSE:WU) during the first quarter, Holdings Channel reports. The fund acquired 97,455 shares of the credit services provider’s stock, valued at approximately $1,800,000.
Several other hedge funds also recently bought and sold shares of the company. GAM Holding AG increased its stake in The Western Union by 80.3% in the 1st quarter. GAM Holding AG now owns 33,351 shares of the credit services provider’s stock worth $616,000 after acquiring an additional 14,850 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in The Western Union by 33.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 424,871 shares of the credit services provider’s stock worth $7,847,000 after acquiring an additional 107,422 shares during the last quarter. MML Investors Services LLC increased its stake in The Western Union by 9.2% in the 1st quarter. MML Investors Services LLC now owns 17,103 shares of the credit services provider’s stock worth $316,000 after acquiring an additional 1,434 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in The Western Union by 8.1% in the 1st quarter. Xact Kapitalforvaltning AB now owns 107,765 shares of the credit services provider’s stock worth $1,990,000 after acquiring an additional 8,038 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in The Western Union in the 1st quarter worth approximately $2,594,000.
WU has been the topic of a number of research reports. Zacks Investment Research raised The Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. ValuEngine downgraded The Western Union from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Finally, Northcoast Research downgraded The Western Union from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The Western Union presently has a consensus rating of “Hold” and an average target price of $20.00.
The Western Union (NYSE:WU) last released its earnings results on Tuesday, May 7th. The credit services provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. The Western Union had a net margin of 14.65% and a negative return on equity of 216.66%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. On average, research analysts expect that The Western Union Company will post 1.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, June 13th. The Western Union’s dividend payout ratio is currently 41.67%.
The Western Union Company Profile
The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.
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