Oppenheimer Asset Management Inc. Reduces Position in The Western Union Company (NYSE:WU)
Oppenheimer Asset Management Inc. decreased its holdings in shares of The Western Union Company (NYSE:WU) by 12.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 81,732 shares of the credit services provider’s stock after selling 11,371 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Western Union were worth $1,482,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in WU. Pinnacle Financial Partners Inc. purchased a new stake in shares of The Western Union during the fourth quarter worth $26,000. Allworth Financial LP grew its holdings in shares of The Western Union by 198.2% in the first quarter. Allworth Financial LP now owns 1,646 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 1,094 shares during the period. Ellevest Inc. purchased a new stake in shares of The Western Union in the first quarter valued at about $40,000. Procyon Private Wealth Partners LLC purchased a new stake in shares of The Western Union in the fourth quarter valued at about $48,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of The Western Union by 34.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,777 shares of the credit services provider’s stock valued at $74,000 after purchasing an additional 710 shares during the period.
A number of equities research analysts recently issued reports on WU shares. Deutsche Bank dropped their price objective on shares of The Western Union from $28.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Bank of America raised shares of The Western Union from an “underperform” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Thursday, April 2nd. Cfra dropped their price objective on shares of The Western Union from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. ValuEngine lowered shares of The Western Union from a “hold” rating to a “sell” rating in a report on Wednesday, April 29th. Finally, Citigroup decreased their target price on shares of The Western Union from $23.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, March 26th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The Western Union presently has an average rating of “Hold” and a consensus target price of $21.71.
The Western Union (NYSE:WU) last issued its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. The Western Union had a net margin of 20.64% and a negative return on equity of 1,692.22%. The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, equities research analysts forecast that The Western Union Company will post 1.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.225 per share. The ex-dividend date is Monday, June 15th. This represents a $0.90 annualized dividend and a dividend yield of 4.73%. The Western Union’s dividend payout ratio is presently 52.02%.
The Western Union 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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