Pictet Asset Management Ltd. boosted its position in The Western Union Company (NYSE:WU) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 963,777 shares of the credit services provider’s stock after buying an additional 63,127 shares during the period. Pictet Asset Management Ltd.’s holdings in The Western Union were worth $19,170,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in WU. Schroder Investment Management Group increased its stake in The Western Union by 185.0% in the second quarter. Schroder Investment Management Group now owns 4,421,897 shares of the credit services provider’s stock valued at $87,952,000 after purchasing an additional 2,870,576 shares in the last quarter. USS Investment Management Ltd bought a new stake in The Western Union in the second quarter valued at $27,505,000. Victory Capital Management Inc. increased its stake in The Western Union by 16,646.5% in the first quarter. Victory Capital Management Inc. now owns 1,104,597 shares of the credit services provider’s stock valued at $20,402,000 after purchasing an additional 1,098,001 shares in the last quarter. Renaissance Technologies LLC increased its stake in The Western Union by 18.0% in the second quarter. Renaissance Technologies LLC now owns 4,484,376 shares of the credit services provider’s stock valued at $89,194,000 after purchasing an additional 684,076 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in The Western Union by 830.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 726,554 shares of the credit services provider’s stock valued at $14,339,000 after purchasing an additional 648,507 shares in the last quarter.
In other news, insider Amintore Schenkel sold 13,361 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $22.86, for a total transaction of $305,432.46. Following the completion of the sale, the insider now directly owns 96,839 shares of the company’s stock, valued at $2,213,739.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard L. Williams sold 16,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.01, for a total transaction of $320,160.00. Following the sale, the executive vice president now directly owns 108,782 shares of the company’s stock, valued at $2,176,727.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,668 shares of company stock valued at $2,211,700. 1.33% of the stock is currently owned by insiders.
The Western Union (NYSE:WU) last posted its earnings results on Thursday, August 1st. The credit services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. The Western Union had a negative return on equity of 309.12% and a net margin of 22.11%. The company’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, analysts anticipate that The Western Union Company will post 1.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, September 13th. The Western Union’s payout ratio is presently 41.67%.
Separately, TheStreet raised shares of The Western Union from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The Western Union presently has an average rating of “Hold” and an average price target of $19.67.
About The Western Union
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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