Handelsbanken Fonder AB Raises Holdings in The Western Union Company (NYSE:WU)

Handelsbanken Fonder AB increased its position in The Western Union Company (NYSE:WU) by 103.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 106,800 shares of the credit services provider’s stock after acquiring an additional 54,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Western Union were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC purchased a new position in shares of Western Union in the first quarter worth about $30,000. Riverview Trust Co purchased a new position in Western Union in the 1st quarter valued at approximately $32,000. Quarry LP grew its stake in Western Union by 52.9% in the 2nd quarter. Quarry LP now owns 2,588 shares of the credit services provider’s stock valued at $32,000 after buying an additional 895 shares in the last quarter. LRI Investments LLC bought a new stake in Western Union during the 1st quarter valued at $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Western Union by 89.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,226 shares of the credit services provider’s stock worth $39,000 after acquiring an additional 1,522 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors.

Western Union Stock Performance

NYSE:WU opened at $11.85 on Friday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 1.74 and a beta of 0.86. The business has a 50 day moving average of $11.83 and a 200 day moving average of $12.52. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.05 and a quick ratio of 1.05. The Western Union Company has a 1-year low of $10.92 and a 1-year high of $14.19.

Western Union (NYSE:WU) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Western Union had a return on equity of 123.71% and a net margin of 13.64%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 8.9% compared to the same quarter last year. On average, sell-side analysts predict that The Western Union Company will post 1.77 earnings per share for the current fiscal year.

Western Union Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.235 per share. The ex-dividend date was Monday, September 16th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.93%. Western Union’s dividend payout ratio (DPR) is currently 55.62%.

Wall Street Analyst Weigh In

WU has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating and set a $13.00 price objective on shares of Western Union in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on shares of Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, August 20th. StockNews.com raised shares of Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada lowered their target price on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, Western Union currently has an average rating of “Hold” and a consensus target price of $13.14.

Western Union Company Profile

The Western Union Company provides money movement and payment services worldwide. The company operates through Consumer Money Transfer and Consumer Services segments. The Consumer Money Transfer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.