Cubist Systematic Strategies LLC Acquires 21,766 Shares of The Western Union Company (NYSE:WU)

Cubist Systematic Strategies LLC increased its holdings in shares of The Western Union Company (NYSE:WU) by 18.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,398 shares of the credit services provider’s stock after purchasing an additional 21,766 shares during the period. Cubist Systematic Strategies LLC’s holdings in Western Union were worth $1,740,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WU. National Bank of Canada FI raised its holdings in shares of Western Union by 1.1% during the second quarter. National Bank of Canada FI now owns 80,813 shares of the credit services provider’s stock valued at $979,000 after purchasing an additional 896 shares during the period. Dakota Wealth Management increased its position in Western Union by 1.8% in the 2nd quarter. Dakota Wealth Management now owns 56,066 shares of the credit services provider’s stock valued at $685,000 after buying an additional 979 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Western Union by 4.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 27,050 shares of the credit services provider’s stock worth $331,000 after buying an additional 1,091 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in Western Union by 59.9% in the first quarter. Abich Financial Wealth Management LLC now owns 3,292 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 1,233 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Western Union by 14.2% in the first quarter. Covestor Ltd now owns 11,751 shares of the credit services provider’s stock worth $164,000 after acquiring an additional 1,465 shares in the last quarter. 91.81% of the stock is currently owned by institutional investors.

Western Union Stock Down 1.9 %

Western Union stock opened at $11.93 on Tuesday. The Western Union Company has a fifty-two week low of $10.92 and a fifty-two week high of $14.19. The company has a debt-to-equity ratio of 5.98, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50-day simple moving average is $11.96 and its 200 day simple moving average is $12.62. The stock has a market cap of $4.04 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86.

Western Union (NYSE:WU) last released its earnings results on Tuesday, July 30th. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Western Union had a net margin of 13.64% and a return on equity of 123.71%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 earnings per share. Research analysts predict that The Western Union Company will post 1.77 EPS for the current fiscal year.

Western Union Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date was Monday, September 16th. Western Union’s dividend payout ratio (DPR) is currently 55.62%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th. Citigroup restated a “neutral” rating and set a $13.00 price objective on shares of Western Union in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price objective on shares of Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, August 20th. Finally, Royal Bank of Canada lowered their target price on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.14.

About Western Union

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.