Engineers Gate Manager LP Sells 85,517 Shares of Western Union Company (The) (WU)
Engineers Gate Manager LP reduced its stake in shares of Western Union Company (The) (NYSE:WU) by 35.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,840 shares of the credit services provider’s stock after selling 85,517 shares during the period. Engineers Gate Manager LP’s holdings in Western Union were worth $2,935,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fiduciary Trust Co. bought a new position in shares of Western Union in the second quarter worth about $121,000. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Western Union in the second quarter worth about $129,000. IFP Advisors Inc increased its stake in shares of Western Union by 3.1% in the second quarter. IFP Advisors Inc now owns 7,836 shares of the credit services provider’s stock worth $149,000 after purchasing an additional 239 shares during the period. Pacer Advisors Inc. increased its stake in shares of Western Union by 8.4% in the second quarter. Pacer Advisors Inc. now owns 8,109 shares of the credit services provider’s stock worth $154,000 after purchasing an additional 627 shares during the period. Finally, Rehmann Capital Advisory Group bought a new position in shares of Western Union in the third quarter worth about $198,000.
Shares of Western Union Company (NYSE:WU) traded down $0.15 on Thursday, reaching $19.40. The company had a trading volume of 4,390,100 shares, compared to its average volume of 4,226,377. Western Union Company has a 1 year low of $18.39 and a 1 year high of $22.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 4.98. The company has a market capitalization of $8,970.00, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.
Western Union (NYSE:WU) last issued its quarterly earnings results on Thursday, November 2nd. The credit services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. Western Union had a return on equity of 116.85% and a net margin of 3.83%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. equities research analysts expect that Western Union Company will post 1.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.61%. Western Union’s dividend payout ratio is 152.17%.
A number of equities analysts have recently commented on WU shares. ValuEngine lowered Western Union from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Western Union from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday, November 6th. Citigroup lifted their price objective on Western Union from $17.00 to $17.50 and gave the stock a “sell” rating in a research note on Friday, November 3rd. Morgan Stanley lifted their price objective on Western Union from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, November 3rd. Finally, Mizuho reiterated a “sell” rating and issued a $16.00 price objective on shares of Western Union in a research note on Sunday, October 15th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Western Union currently has a consensus rating of “Hold” and an average target price of $20.14.
In related news, EVP Jean Claude Farah sold 17,518 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $20.50, for a total transaction of $359,119.00. Following the transaction, the executive vice president now directly owns 139,500 shares in the company, valued at $2,859,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
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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. The Company’s Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents.
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