PNC Financial Services Group Inc. Cuts Stock Holdings in The Western Union Company (NYSE:WU)

PNC Financial Services Group Inc. lessened its position in The Western Union Company (NYSE:WU) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,059 shares of the credit services provider’s stock after selling 4,395 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Western Union were worth $943,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WU. LSV Asset Management boosted its holdings in shares of Western Union by 17.7% during the 2nd quarter. LSV Asset Management now owns 9,736,930 shares of the credit services provider’s stock worth $118,985,000 after purchasing an additional 1,462,853 shares during the last quarter. Millennium Management LLC boosted its stake in Western Union by 62.8% during the second quarter. Millennium Management LLC now owns 3,730,450 shares of the credit services provider’s stock worth $45,586,000 after buying an additional 1,439,310 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Western Union by 52.0% in the 2nd quarter. Marshall Wace LLP now owns 3,337,466 shares of the credit services provider’s stock worth $40,784,000 after acquiring an additional 1,142,400 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Western Union by 4.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,880,800 shares of the credit services provider’s stock worth $22,438,000 after acquiring an additional 84,579 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Western Union by 4.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,034,943 shares of the credit services provider’s stock worth $12,647,000 after acquiring an additional 39,739 shares during the period. 91.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WU has been the subject of several recent analyst reports. UBS Group cut their price objective on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on shares of Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.86.

Western Union Price Performance

Shares of NYSE WU opened at $11.02 on Friday. The company has a debt-to-equity ratio of 3.96, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. The stock’s 50-day moving average is $11.32 and its two-hundred day moving average is $11.96. The Western Union Company has a 1-year low of $10.51 and a 1-year high of $14.19.

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

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.