New York State Teachers Retirement System reduced its position in The Western Union Company (NYSE:WU) by 7.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 637,524 shares of the credit services provider’s stock after selling 53,685 shares during the quarter. New York State Teachers Retirement System’s holdings in The Western Union were worth $12,680,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Somerset Trust Co acquired a new position in The Western Union in the 1st quarter worth about $26,000. Investors Research Corp acquired a new position in The Western Union in the 1st quarter worth about $50,000. Close Asset Management Ltd increased its position in The Western Union by 79.6% in the 1st quarter. Close Asset Management Ltd now owns 3,488 shares of the credit services provider’s stock worth $64,000 after purchasing an additional 1,546 shares during the last quarter. Pinnacle Bank acquired a new position in The Western Union in the 4th quarter worth about $65,000. Finally, NEXT Financial Group Inc boosted its stake in shares of The Western Union by 1,229.8% during the 2nd quarter. NEXT Financial Group Inc now owns 5,984 shares of the credit services provider’s stock worth $119,000 after acquiring an additional 5,534 shares in the last quarter.
In related news, EVP Richard L. Williams sold 16,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $320,160.00. Following the completion of the sale, the executive vice president now owns 108,782 shares in the company, valued at approximately $2,176,727.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jacqueline D. Molnar sold 15,712 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $20.14, for a total value of $316,439.68. Following the sale, the insider now owns 53,771 shares of the company’s stock, valued at approximately $1,082,947.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,576 shares of company stock valued at $1,485,822. 1.33% of the stock is currently owned by corporate insiders.
WU opened at $20.90 on Wednesday. The company has a market cap of $9.08 billion, a P/E ratio of 10.89, a PEG ratio of 2.35 and a beta of 0.82. The business’s 50-day moving average is $20.30. The Western Union Company has a 52-week low of $16.42 and a 52-week high of $21.20.
The Western Union (NYSE:WU) last released its quarterly earnings results on Tuesday, May 7th. The credit services provider reported $0.39 earnings per share (EPS) for the quarter, missing the 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 negative return on equity of 216.66% and a net margin of 14.65%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, sell-side analysts forecast that The Western Union Company will post 1.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.83%. The Western Union’s dividend payout ratio (DPR) is presently 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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