The Western Union Company (NYSE:WU) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in The Western Union Company (NYSE:WU) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 61,606 shares of the credit services provider’s stock after buying an additional 1,560 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Western Union were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Quarry LP grew its holdings in Western Union by 52.9% during the second quarter. Quarry LP now owns 2,588 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 895 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Western Union by 0.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 238,876 shares of the credit services provider’s stock worth $2,849,000 after purchasing an additional 1,205 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Western Union by 1.4% in the 3rd quarter. Tidal Investments LLC now owns 88,410 shares of the credit services provider’s stock worth $1,055,000 after purchasing an additional 1,230 shares in the last quarter. Plato Investment Management Ltd lifted its stake in Western Union by 12.9% during the third quarter. Plato Investment Management Ltd now owns 13,177 shares of the credit services provider’s stock valued at $157,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in 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 buying an additional 1,522 shares in the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Trading Up 0.3 %

NYSE:WU opened at $10.32 on Thursday. The company has a market capitalization of $3.48 billion, a P/E ratio of 5.29, a P/E/G ratio of 1.39 and a beta of 0.85. The stock’s 50 day moving average price is $10.67 and its 200 day moving average price is $11.35. The company has a debt-to-equity ratio of 3.96, a quick ratio of 1.10 and a current ratio of 1.10. The Western Union Company has a 52 week low of $10.17 and a 52 week high of $14.19.

Western Union declared that its Board of Directors has authorized a share buyback plan on Friday, December 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to purchase up to 27.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Western Union Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 9.11%. The ex-dividend date was Monday, December 23rd. Western Union’s payout ratio is presently 48.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WU shares. StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods decreased their target price on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Monday, December 9th. Barclays reduced their price target on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, December 13th. Finally, UBS Group cut their target price on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, Western Union presently has a consensus rating of “Hold” and a consensus price target of $12.63.

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.