The Western Union (WU) Coverage Initiated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods initiated coverage on shares of The Western Union (NYSE:WU) in a research note issued on Thursday, The Fly reports. The brokerage set a “market perform” rating on the credit services provider’s stock.

Several other research analysts have also commented on WU. Wells Fargo & Co lowered The Western Union from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a research report on Tuesday, November 6th. Zacks Investment Research lowered The Western Union from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, Barclays started coverage on The Western Union in a research report on Wednesday, November 14th. They issued an “underweight” rating and a $18.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.83.

Shares of WU traded up $0.13 during trading hours on Thursday, hitting $18.49. The stock had a trading volume of 6,114,800 shares, compared to its average volume of 5,058,598. The firm has a market capitalization of $8.13 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04. The Western Union has a 12-month low of $17.40 and a 12-month high of $22.21.

The Western Union (NYSE:WU) last issued its earnings results on Thursday, November 1st. The credit services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.43 billion. The Western Union had a negative return on equity of 194.60% and a negative net margin of 8.55%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, equities research analysts forecast that The Western Union will post 1.92 EPS for the current year.

In other The Western Union news, EVP Sheri Rhodes sold 2,175 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $19.02, for a total value of $41,368.50. Following the transaction, the executive vice president now directly owns 51,775 shares of the company’s stock, valued at $984,760.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in WU. Alps Advisors Inc. grew its stake in shares of The Western Union by 2.6% during the second quarter. Alps Advisors Inc. now owns 2,471,176 shares of the credit services provider’s stock valued at $46,977,000 after acquiring an additional 62,702 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of The Western Union during the second quarter valued at about $109,000. Dupont Capital Management Corp grew its stake in shares of The Western Union by 8.4% during the second quarter. Dupont Capital Management Corp now owns 34,215 shares of the credit services provider’s stock valued at $696,000 after acquiring an additional 2,660 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of The Western Union by 5.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,505,841 shares of the credit services provider’s stock valued at $30,614,000 after acquiring an additional 77,024 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of The Western Union by 3.6% during the second quarter. First Trust Advisors LP now owns 469,018 shares of the credit services provider’s stock valued at $9,535,000 after acquiring an additional 16,132 shares in the last quarter.

About The Western Union

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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