Assenagon Asset Management S.A. Makes New Investment in The Western Union Company (NYSE:WU)

Assenagon Asset Management S.A. bought a new position in shares of The Western Union Company (NYSE:WUGet Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,405 shares of the credit services provider’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Western Union by 13,546.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,401,454 shares of the credit services provider’s stock worth $32,419,000 after buying an additional 2,383,856 shares during the period. AQR Capital Management LLC boosted its position in shares of Western Union by 142.5% during the second quarter. AQR Capital Management LLC now owns 2,908,148 shares of the credit services provider’s stock worth $47,432,000 after buying an additional 1,708,759 shares during the period. State Street Corp boosted its position in shares of Western Union by 10.4% during the first quarter. State Street Corp now owns 16,856,481 shares of the credit services provider’s stock worth $315,890,000 after buying an additional 1,592,331 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Western Union during the first quarter worth $26,384,000. Finally, National Bank of Canada FI boosted its position in shares of Western Union by 2,258.2% during the third quarter. National Bank of Canada FI now owns 1,181,652 shares of the credit services provider’s stock worth $15,952,000 after buying an additional 1,131,544 shares during the period. Institutional investors and hedge funds own 97.66% of the company’s stock.

Wall Street Analyst Weigh In

WU has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on Western Union from $19.00 to $16.00 in a research report on Monday, October 10th. Truist Financial decreased their target price on Western Union from $15.00 to $13.00 and set a “hold” rating for the company in a report on Friday, October 21st. Morgan Stanley decreased their target price on Western Union from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, October 21st. StockNews.com started coverage on Western Union in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Barclays decreased their target price on Western Union from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Sunday, November 6th. Seven analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.30.

Insider Transactions at Western Union

In related news, Chairman Jeffrey A. Joerres purchased 7,745 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average price of $12.84 per share, for a total transaction of $99,445.80. Following the transaction, the chairman now directly owns 167,337 shares of the company’s stock, valued at approximately $2,148,607.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.41% of the company’s stock.

Western Union Stock Down 1.5 %

WU opened at $13.89 on Thursday. The business’s 50-day simple moving average is $14.01 and its 200-day simple moving average is $14.69. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.98 and a current ratio of 0.98. The Western Union Company has a one year low of $12.27 and a one year high of $20.40. The stock has a market capitalization of $5.36 billion, a P/E ratio of 6.58 and a beta of 0.88.

Western Union (NYSE:WUGet Rating) last posted its earnings results on Tuesday, November 1st. The credit services provider reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Western Union had a return on equity of 195.13% and a net margin of 17.78%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Analysts anticipate that The Western Union Company will post 1.79 EPS for the current year.

Western Union Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Monday, December 19th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Friday, December 16th. Western Union’s dividend payout ratio (DPR) is currently 44.55%.

Western Union Profile

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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 and sub-agents; and offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through websites and mobile devices.

See Also

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

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