Allspring Global Investments Holdings LLC Sells 1,951 Shares of The Western Union Company (NYSE:WU)

Allspring Global Investments Holdings LLC lessened its holdings in The Western Union Company (NYSE:WU) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 791,715 shares of the credit services provider’s stock after selling 1,951 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Western Union were worth $9,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WU. Price T Rowe Associates Inc. MD boosted its holdings in shares of Western Union by 7,569.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,905,891 shares of the credit services provider’s stock valued at $194,405,000 after acquiring an additional 13,724,584 shares in the last quarter. LSV Asset Management raised its position in Western Union by 17.7% in the second quarter. LSV Asset Management now owns 9,736,930 shares of the credit services provider’s stock valued at $118,985,000 after purchasing an additional 1,462,853 shares during the last quarter. Discerene Group LP boosted its stake in shares of Western Union by 11.9% during the first quarter. Discerene Group LP now owns 6,682,192 shares of the credit services provider’s stock valued at $93,417,000 after purchasing an additional 710,873 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Western Union by 62.8% during the second quarter. Millennium Management LLC now owns 3,730,450 shares of the credit services provider’s stock worth $45,586,000 after purchasing an additional 1,439,310 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Western Union by 52.0% in the second quarter. Marshall Wace LLP now owns 3,337,466 shares of the credit services provider’s stock valued at $40,784,000 after buying an additional 1,142,400 shares during the period. Institutional investors own 91.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their target price 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. Citigroup reissued a “neutral” rating and issued a $13.00 price objective on shares of Western Union in a research note on Wednesday, July 17th. Royal Bank of Canada lowered their target price on Western Union from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research report on Friday. Finally, 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 research note on Thursday. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.86.

Western Union Stock Performance

Shares of Western Union stock opened at $11.17 on Friday. The business has a 50-day moving average price of $11.85 and a two-hundred day moving average price of $12.36. The Western Union Company has a 1-year low of $10.92 and a 1-year high of $14.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.98. The company has a market cap of $3.77 billion, a P/E ratio of 6.85, a PEG ratio of 1.74 and a beta of 0.86.

Western Union (NYSE:WU) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. Western Union had a return on equity of 123.71% and a net margin of 13.64%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, analysts anticipate that The Western Union Company will post 1.76 EPS for the current year.

Western Union 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.