Texas Permanent School Fund Corp trimmed its stake in The Western Union Company (NYSE:WU – Free Report) by 13.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 262,342 shares of the credit services provider’s stock after selling 41,794 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.08% of Western Union worth $3,206,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC bought a new position in shares of Western Union during the 1st quarter worth approximately $30,000. Riverview Trust Co acquired a new position in shares of Western Union during the 1st quarter worth $32,000. LRI Investments LLC acquired a new position in shares of Western Union during the 1st quarter worth $37,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Western Union during the 1st quarter worth $41,000. Finally, Abich Financial Wealth Management LLC grew its position in Western Union by 59.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,292 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 1,233 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors.
Western Union Stock Performance
Shares of Western Union stock opened at $11.86 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.98. The company has a market cap of $4.01 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 1.78 and a beta of 0.86. The business has a 50 day moving average price of $12.08 and a 200-day moving average price of $12.75. The Western Union Company has a 52 week low of $10.92 and a 52 week high of $14.19.
Western Union Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 7.93%. The ex-dividend date of this dividend is Monday, September 16th. Western Union’s dividend payout ratio (DPR) is 55.62%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on WU shares. JPMorgan Chase & Co. reduced their price objective on Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th. Royal Bank of Canada cut their target price on Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. Finally, Citigroup reaffirmed a “neutral” rating and set a $13.00 price target on shares of Western Union in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, Western Union presently has a consensus rating of “Hold” and an average price target of $13.14.
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.
Featured Articles
- Five stocks we like better than Western Union
- NYSE Stocks Give Investors a Variety of Quality OptionsÂ
- Symbotic’s Double-Bagger Potential as It Hits a Key Inflection
- How Can Investors Benefit From After-Hours Trading
- High Dividend Yields Make These 2 Shipping Stocks Stand Out
- What Does Downgrade Mean in Investing?
- Can Celsius Stock Rebound? Analysts See 74% Upside Potential
Want to see what other hedge funds are holding WU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Western Union Company (NYSE:WU – Free Report).
Receive News & Ratings for Western Union Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Union and related companies with MarketBeat.com's FREE daily email newsletter.