Truist Financial Corp Has $672,000 Stock Position in The Western Union Company (NYSE:WU)

Truist Financial Corp boosted its position in The Western Union Company (NYSE:WU) by 29.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 57,322 shares of the credit services provider’s stock after purchasing an additional 13,005 shares during the period. Truist Financial Corp’s holdings in Western Union were worth $672,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WU. Jupiter Asset Management Ltd. lifted its stake in Western Union by 70.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 16,078,188 shares of the credit services provider’s stock valued at $179,111,000 after purchasing an additional 6,638,884 shares during the last quarter. AQR Capital Management LLC lifted its position in Western Union by 155.3% during the fourth quarter. AQR Capital Management LLC now owns 6,576,970 shares of the credit services provider’s stock worth $90,565,000 after acquiring an additional 4,000,880 shares during the last quarter. Vanguard Group Inc. lifted its position in Western Union by 8.3% during the third quarter. Vanguard Group Inc. now owns 45,774,680 shares of the credit services provider’s stock worth $617,958,000 after acquiring an additional 3,522,420 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Western Union by 106.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,550,664 shares of the credit services provider’s stock worth $61,890,000 after acquiring an additional 2,859,852 shares during the last quarter. Finally, Norges Bank acquired a new stake in Western Union during the fourth quarter worth approximately $29,041,000. 88.83% of the stock is currently owned by institutional investors and hedge funds.

Western Union Stock Performance

Shares of NYSE:WU opened at $11.74 on Thursday. The company’s 50 day simple moving average is $12.69 and its 200 day simple moving average is $12.11. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 5.93 and a beta of 0.85. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.01 and a quick ratio of 1.01. The Western Union Company has a 1 year low of $10.07 and a 1 year high of $14.84.

Western Union (NYSE:WU) last announced its quarterly earnings data on Wednesday, October 25th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Western Union had a net margin of 17.02% and a return on equity of 111.74%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that The Western Union Company will post 1.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Western Union from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Truist Financial raised their price objective on shares of Western Union from $10.00 to $13.00 in a research report on Thursday, July 27th. JPMorgan Chase & Co. raised their target price on shares of Western Union from $12.00 to $13.00 in a report on Thursday, July 27th. StockNews.com began coverage on shares of Western Union in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, William Blair reaffirmed a “market perform” rating on shares of Western Union in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Western Union has a consensus rating of “Hold” and a consensus target price of $12.44.

Western Union Company 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 for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.