Teacher Retirement System of Texas lowered its stake in Western Union Co. (NYSE:WU) by 89.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,925 shares of the company’s stock after selling 297,891 shares during the period. Teacher Retirement System of Texas’ holdings in Western Union were worth $689,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Seven Eight Capital LLC acquired a new stake in Western Union during the first quarter worth about $105,000. Checchi Capital Advisers LLC boosted its stake in Western Union by 11.4% in the second quarter. Checchi Capital Advisers LLC now owns 5,642 shares of the company’s stock worth $108,000 after buying an additional 577 shares during the period. Americafirst Capital Management LLC acquired a new stake in Western Union during the second quarter worth about $109,000. Loomis Sayles & Co. L P boosted its stake in Western Union by 69.3% in the first quarter. Loomis Sayles & Co. L P now owns 9,087 shares of the company’s stock worth $175,000 after buying an additional 3,721 shares during the period. Finally, Commerce Bank acquired a new stake in Western Union during the second quarter worth about $197,000.
Shares of Western Union Co. (NYSE:WU) traded up 0.464% during midday trading on Friday, hitting $20.585. 1,577,245 shares of the stock traded hands. Western Union Co. has a 1-year low of $16.02 and a 1-year high of $21.80. The company has a market capitalization of $10.04 billion, a P/E ratio of 12.386 and a beta of 1.16. The stock has a 50 day moving average of $20.92 and a 200 day moving average of $19.88.
Western Union (NYSE:WU) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Western Union had a return on equity of 63.02% and a net margin of 15.33%. The business earned $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm posted $0.41 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that Western Union Co. will post $1.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, September 14th. Western Union’s dividend payout ratio is 38.55%.
A number of brokerages have recently weighed in on WU. Citigroup Inc. boosted their price objective on shares of Western Union from $15.50 to $17.00 and gave the stock a “sell” rating in a research note on Thursday, August 4th. Vetr cut shares of Western Union from a “sell” rating to a “strong sell” rating and set a $19.20 price objective for the company. in a research note on Monday, September 5th. Monness Crespi & Hardt cut shares of Western Union from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research note on Thursday, September 8th. Zacks Investment Research cut shares of Western Union from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Finally, Morgan Stanley restated an “underweight” rating and issued a $17.00 price objective on shares of Western Union in a research note on Tuesday, August 23rd. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.91.
In other Western Union news, insider Hikmet Ersek sold 276,127 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $21.52, for a total transaction of $5,942,253.04. Following the completion of the sale, the insider now owns 407,285 shares of the company’s stock, valued at approximately $8,764,773.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Betsy D. Holden sold 21,281 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $21.02, for a total value of $447,326.62. Following the sale, the director now directly owns 93,826 shares of the company’s stock, valued at approximately $1,972,222.52. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Western Union Company Profile
The Western Union Company (Western Union) is a provider of money movement and payment services. The Company operates through three segments: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. Western Union’s Consumer-to-Consumer segment is engaged in individual money transfers from one consumer to another.
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