NuWave Investment Management LLC trimmed its holdings in shares of The Western Union Company (NYSE:WU) by 76.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,285 shares of the credit services provider’s stock after selling 10,930 shares during the period. NuWave Investment Management LLC’s holdings in The Western Union were worth $66,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Somerset Trust Co acquired a new stake in The Western Union during the 1st quarter valued at approximately $26,000. Ellis Investment Partners LLC purchased a new position in shares of The Western Union during the 1st quarter valued at approximately $36,000. Investors Research Corp purchased a new position in shares of The Western Union during the 1st quarter valued at approximately $50,000. Close Asset Management Ltd increased its holdings in shares of The Western Union by 79.6% during the 1st quarter. Close Asset Management Ltd now owns 3,488 shares of the credit services provider’s stock valued at $64,000 after purchasing an additional 1,546 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in shares of The Western Union during the 4th quarter valued at approximately $65,000.
Several equities analysts have recently weighed in on WU shares. Zacks Investment Research raised shares of Zymeworks from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Saturday, April 27th. Northcoast Research lowered shares of The Western Union from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The Western Union presently has an average rating of “Hold” and a consensus price target of $20.00.
The Western Union (NYSE:WU) last posted its earnings results on Tuesday, May 7th. The credit services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. The Western Union had a net margin of 14.65% and a negative return on equity of 216.66%. The Western Union’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. As a group, sell-side analysts anticipate that The Western Union Company will post 1.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, September 13th. The Western Union’s payout ratio is presently 41.67%.
In related news, insider Jacqueline D. Molnar sold 15,712 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 53,771 shares of the company’s stock, valued at approximately $1,082,947.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Richard L. Williams sold 16,000 shares of the business’s stock in a transaction 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 directly owns 108,782 shares of the company’s stock, valued at approximately $2,176,727.82. The disclosure for this sale can be found here. In the last three months, insiders sold 72,576 shares of company stock valued at $1,485,822. 1.33% of the stock is owned by insiders.
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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