BlackRock Inc. Cuts Holdings in The Western Union Company (NYSE:WU)

BlackRock Inc. decreased its position in shares of The Western Union Company (NYSE:WU) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,076,815 shares of the credit services provider’s stock after selling 1,299,571 shares during the period. BlackRock Inc. owned approximately 9.93% of The Western Union worth $836,909,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Signaturefd LLC grew its position in The Western Union by 66.5% in the second quarter. Signaturefd LLC now owns 1,300 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 519 shares in the last quarter. Private Ocean LLC purchased a new position in The Western Union in the second quarter worth about $30,000. Mcmillion Capital Management Inc. purchased a new position in The Western Union in the second quarter worth about $49,000. CSat Investment Advisory L.P. grew its position in The Western Union by 27.8% in the second quarter. CSat Investment Advisory L.P. now owns 2,630 shares of the credit services provider’s stock worth $52,000 after acquiring an additional 572 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in The Western Union in the second quarter worth about $60,000.

Shares of NYSE WU opened at $27.87 on Friday. The company has a debt-to-equity ratio of 101.99, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $11.68 billion, a P/E ratio of 14.52, a PEG ratio of 1.56 and a beta of 0.81. The Western Union Company has a 1 year low of $16.42 and a 1 year high of $28.00. The firm has a 50-day simple moving average of $24.16 and a two-hundred day simple moving average of $21.47.

The Western Union (NYSE:WU) last announced its quarterly earnings data on Thursday, October 31st. The credit services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. The Western Union had a net margin of 21.07% and a negative return on equity of 475.84%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, equities research analysts expect that The Western Union Company will post 1.77 EPS for the current year.

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In other The Western Union news, insider Amintore Schenkel sold 13,361 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $22.86, for a total value of $305,432.46. Following the completion of the sale, the insider now owns 96,839 shares of the company’s stock, valued at $2,213,739.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Miles sold 6,282 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $24.00, for a total transaction of $150,768.00. Following the completion of the sale, the director now directly owns 133,735 shares of the company’s stock, valued at approximately $3,209,640. The disclosure for this sale can be found here. In the last three months, insiders sold 40,385 shares of company stock valued at $963,200. 1.33% of the stock is owned by insiders.

WU has been the subject of several recent research reports. SunTrust Banks lifted their price target on The Western Union to $26.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America set a $21.00 price target on The Western Union and gave the stock a “sell” rating in a research report on Friday, November 1st. Wolfe Research set a $24.00 price target on The Western Union and gave the stock a “sell” rating in a research report on Friday, November 1st. Citigroup set a $20.50 price target on The Western Union and gave the stock a “sell” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada set a $23.00 price target on The Western Union and gave the stock a “hold” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The Western Union currently has a consensus rating of “Hold” and an average price target of $23.14.

The Western Union Profile

The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.

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Institutional Ownership by Quarter for The Western Union (NYSE:WU)

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