Fifth Third Bancorp Acquires 1,993 Shares of The Western Union Company (NYSE:WU)

Fifth Third Bancorp boosted its holdings in The Western Union Company (NYSE:WU) by 45.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,371 shares of the credit services provider’s stock after purchasing an additional 1,993 shares during the period. Fifth Third Bancorp’s holdings in Western Union were worth $68,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Western Union in the 3rd quarter valued at $25,000. Quarry LP lifted its holdings in Western Union by 52.9% during the 2nd quarter. Quarry LP now owns 2,588 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 895 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Western Union by 89.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,226 shares of the credit services provider’s stock valued at $39,000 after buying an additional 1,522 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Western Union during the fourth quarter worth about $53,000. Finally, Tompkins Financial Corp bought a new position in shares of Western Union in the third quarter valued at approximately $60,000. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Stock Down 0.6 %

Shares of NYSE WU opened at $10.34 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96. The firm has a market capitalization of $3.49 billion, a PE ratio of 5.30, a price-to-earnings-growth ratio of 1.40 and a beta of 0.85. The firm’s 50-day moving average is $10.64 and its 200-day moving average is $11.32. The Western Union Company has a 1 year low of $10.17 and a 1 year high of $14.19.

Western Union declared that its board 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 reacquire up to 27.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Western Union Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date was Monday, December 23rd. Western Union’s dividend payout ratio is presently 48.21%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Barclays decreased their target price on Western Union from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, December 13th. UBS Group cut 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. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Western Union currently has a consensus rating of “Hold” and an average target price of $12.63.

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.