Envestnet Asset Management Inc. Buys 23,523 Shares of The Western Union Company (NYSE:WU)

Envestnet Asset Management Inc. grew its stake in The Western Union Company (NYSE:WU) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 384,575 shares of the credit services provider’s stock after purchasing an additional 23,523 shares during the period. Envestnet Asset Management Inc.’s holdings in Western Union were worth $4,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MCF Advisors LLC acquired a new position in shares of Western Union in the 1st quarter worth approximately $30,000. Riverview Trust Co acquired a new position in shares of Western Union in the 1st quarter worth approximately $32,000. LRI Investments LLC acquired a new position in shares of Western Union in the 1st quarter worth approximately $37,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Western Union by 59.9% in 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 in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Western Union in the 1st quarter worth approximately $103,000. 91.81% of the stock is currently owned by institutional investors.

Western Union Stock Performance

Shares of Western Union stock opened at $11.76 on Wednesday. The firm has a fifty day moving average of $11.95 and a two-hundred day moving average of $12.61. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 6.96, a PEG ratio of 1.82 and a beta of 0.86. The Western Union Company has a 52 week low of $10.92 and a 52 week high of $14.19. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.05 and a current ratio of 1.05.

Western Union (NYSE:WU) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. Western Union had a net margin of 13.64% and a return on equity of 123.71%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, equities research analysts predict that The Western Union Company will post 1.77 EPS for the current year.

Western Union Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.99%. The ex-dividend date was Monday, September 16th. Western Union’s payout ratio is 55.62%.

Analyst Upgrades and Downgrades

WU has been the topic of several research reports. Citigroup reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Western Union in a report on Wednesday, July 17th. 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 report on Tuesday, August 20th. StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reduced their price objective on Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, Western Union presently has an average rating of “Hold” and an average price target of $13.14.

About Western Union

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.