JPMorgan Chase & Co. cut its holdings in shares of The Western Union Company (NYSE:WU) by 29.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,668,939 shares of the credit services provider’s stock after selling 683,070 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.41% of The Western Union worth $36,618,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of WU. National Pension Service boosted its holdings in shares of The Western Union by 48.3% in the fourth quarter. National Pension Service now owns 137,889 shares of the credit services provider’s stock worth $3,025,000 after acquiring an additional 44,883 shares during the period. Truist Financial Corp boosted its stake in The Western Union by 20.2% in the 4th quarter. Truist Financial Corp now owns 297,886 shares of the credit services provider’s stock worth $6,536,000 after purchasing an additional 50,072 shares during the period. SummerHaven Investment Management LLC purchased a new position in The Western Union during the 4th quarter valued at about $433,000. Twinbeech Capital LP bought a new stake in shares of The Western Union during the fourth quarter valued at about $853,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of The Western Union in the fourth quarter worth about $544,000.
In other The Western Union news, insider Khalid Fellahi sold 16,895 shares of the stock in a transaction on Friday, February 19th. The stock was sold at an average price of $23.84, for a total value of $402,776.80. Following the completion of the transaction, the insider now owns 160,764 shares in the company, valued at $3,832,613.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Summerill sold 2,806 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $24.75, for a total value of $69,448.50. Over the last ninety days, insiders sold 324,677 shares of company stock valued at $7,760,531. Corporate insiders own 1.27% of the company’s stock.
The Western Union (NYSE:WU) last released its quarterly earnings results on Tuesday, February 9th. The credit services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. The Western Union had a negative return on equity of 1,029.12% and a net margin of 12.38%. The Western Union’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS. Sell-side analysts anticipate that The Western Union Company will post 1.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were issued a $0.235 dividend. The ex-dividend date was Tuesday, March 16th. This is a positive change from The Western Union’s previous quarterly dividend of $0.23. This represents a $0.94 annualized dividend and a yield of 3.72%. The Western Union’s dividend payout ratio is 54.34%.
Several analysts have issued reports on WU shares. Wells Fargo & Company upgraded shares of The Western Union from an “underweight” rating to an “equal weight” rating and set a $25.00 target price on the stock in a research note on Thursday, February 11th. Barclays lifted their price objective on The Western Union from $20.00 to $23.00 and gave the company an “underweight” rating in a research note on Tuesday, February 16th. Citigroup upped their target price on The Western Union from $24.00 to $25.50 in a research note on Thursday, February 11th. Credit Suisse Group lifted their price target on The Western Union from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Thursday, February 11th. Finally, Guggenheim upgraded shares of The Western Union from a “neutral” rating to a “buy” rating in a research report on Friday, January 8th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.84.
The Western Union Company Profile
The Western Union Co is a holding company, which engages in the provision of money transfer and payment services. It operates through the following segments: Consumer-to-Consumer; Business Solutions; and Other. The Consumer-to-Consumer segment facilitates money transfers between two consumers. The Business Solutions segment offers payment and foreign exchange solutions, cross-border, cross-currency transactions, for small and medium size enterprises and other organizations and individuals.
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