The Western Union Company (NYSE:WU) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of The Western Union Company (NYSE:WU) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,686 shares of the credit services provider’s stock after selling 18,531 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Western Union worth $3,839,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Impact Partnership Wealth LLC boosted its stake in shares of Western Union by 8.1% in the third quarter. Impact Partnership Wealth LLC now owns 35,281 shares of the credit services provider’s stock valued at $421,000 after purchasing an additional 2,642 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Western Union by 1,189.7% in the third quarter. International Assets Investment Management LLC now owns 7,854 shares of the credit services provider’s stock valued at $94,000 after purchasing an additional 7,245 shares during the period. Elevated Capital Advisors LLC boosted its stake in shares of Western Union by 7.9% in the third quarter. Elevated Capital Advisors LLC now owns 53,759 shares of the credit services provider’s stock valued at $641,000 after purchasing an additional 3,958 shares during the period. Krane Funds Advisors LLC boosted its stake in shares of Western Union by 6.1% in the third quarter. Krane Funds Advisors LLC now owns 34,536 shares of the credit services provider’s stock valued at $412,000 after purchasing an additional 1,987 shares during the period. Finally, OLD National Bancorp IN boosted its stake in shares of Western Union by 11.9% in the third quarter. OLD National Bancorp IN now owns 704,054 shares of the credit services provider’s stock valued at $8,399,000 after purchasing an additional 74,742 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WU. JPMorgan Chase & Co. lowered their price objective on shares of Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. Citigroup reiterated a “neutral” rating and issued a $13.00 price target on shares of Western Union in a research note on Wednesday, July 17th. Royal Bank of Canada decreased their price target on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, UBS Group decreased their price target on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, Western Union currently has an average rating of “Hold” and an average target price of $12.86.

Western Union Stock Down 3.4 %

WU stock opened at $10.84 on Wednesday. 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 Western Union Company has a twelve month low of $10.75 and a twelve month high of $14.19. The company’s 50 day moving average is $11.84 and its two-hundred day moving average is $12.33. The stock has a market cap of $3.66 billion, a P/E ratio of 5.67, a PEG ratio of 1.67 and a beta of 0.86.

Western Union (NYSE:WU) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. Western Union had a net margin of 16.07% and a return on equity of 120.39%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts expect that The Western Union Company will post 1.77 earnings per share for the current fiscal year.

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.