Cornercap Investment Counsel Inc. Sells 20,170 Shares of The Western Union Company (NYSE:WU)

Cornercap Investment Counsel Inc. trimmed its holdings in The Western Union Company (NYSE:WU) by 51.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,054 shares of the credit services provider’s stock after selling 20,170 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Western Union were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of Western Union by 52.9% during the 2nd quarter. Quarry LP now owns 2,588 shares of the credit services provider’s stock worth $32,000 after buying an additional 895 shares in the last quarter. National Bank of Canada FI boosted its stake in Western Union by 1.1% during the second quarter. National Bank of Canada FI now owns 80,813 shares of the credit services provider’s stock worth $979,000 after acquiring an additional 896 shares in the last quarter. Dakota Wealth Management grew its holdings in Western Union by 1.8% in the second quarter. Dakota Wealth Management now owns 56,066 shares of the credit services provider’s stock worth $685,000 after purchasing an additional 979 shares during the period. Abich Financial Wealth Management LLC increased its stake in Western Union by 31.1% in the second quarter. Abich Financial Wealth Management LLC now owns 4,316 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 1,024 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of Western Union by 4.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,050 shares of the credit services provider’s stock valued at $331,000 after purchasing an additional 1,091 shares during the period. Institutional investors own 91.81% of the company’s stock.

Western Union Price Performance

Shares of NYSE:WU opened at $10.86 on Tuesday. The company’s fifty day moving average price is $11.49 and its 200-day moving average price is $12.09. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.10 and a quick ratio of 1.10. The Western Union Company has a one year low of $10.51 and a one year high of $14.19. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 1.52 and a beta of 0.87.

Western Union (NYSE:WU) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Western Union had a net margin of 16.07% and a return on equity of 120.39%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, equities research analysts anticipate that The Western Union Company will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WU shares. JPMorgan Chase & Co. decreased their target price on Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, August 20th. UBS Group decreased their price target on Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. 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 for the company in a report on Wednesday, July 31st. Finally, StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.86.

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.