Handelsbanken Fonder AB Sells 18,900 Shares of The Western Union Company (NYSE:WU)

Handelsbanken Fonder AB cut its holdings in shares of The Western Union Company (NYSE:WU) by 17.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,900 shares of the credit services provider’s stock after selling 18,900 shares during the period. Handelsbanken Fonder AB’s holdings in Western Union were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WU. True Wealth Design LLC bought a new stake in shares of Western Union in the third quarter valued at about $25,000. R Squared Ltd bought a new stake in shares of Western Union in the fourth quarter valued at about $25,000. Independence Bank of Kentucky bought a new stake in shares of Western Union in the fourth quarter valued at about $28,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Western Union by 1,734.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,862 shares of the credit services provider’s stock valued at $52,000 after purchasing an additional 4,597 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of Western Union in the fourth quarter valued at about $53,000. 91.81% of the stock is currently owned by institutional investors.

Western Union Trading Up 0.1 %

Shares of NYSE:WU opened at $10.76 on Friday. The Western Union Company has a 12-month low of $10.04 and a 12-month high of $14.19. The stock has a market cap of $3.63 billion, a PE ratio of 3.94, a P/E/G ratio of 1.32 and a beta of 0.85. The business has a 50 day moving average of $10.52 and a 200-day moving average of $11.12. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 3.04.

Western Union (NYSE:WU) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Western Union had a return on equity of 96.90% and a net margin of 22.19%. As a group, equities research analysts forecast that The Western Union Company will post 1.79 earnings per share for the current year.

Western Union Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 8.74%. The ex-dividend date of this dividend is Monday, March 17th. Western Union’s dividend payout ratio (DPR) is currently 34.43%.

Western Union announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the credit services provider to purchase up to 27.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their target price on Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Monday, December 9th. Barclays lowered their target price on Western Union from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, December 13th. JMP Securities reaffirmed a “market perform” rating on shares of Western Union in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on Western Union from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Susquehanna lowered their price target on Western Union from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.11.

Western Union Company 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.