Allianz Asset Management GmbH Purchases 2,140,167 Shares of The Western Union Company $WU

Allianz Asset Management GmbH grew its holdings in The Western Union Company (NYSE:WU) by 51.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,329,626 shares of the credit services provider’s stock after purchasing an additional 2,140,167 shares during the quarter. Allianz Asset Management GmbH owned about 1.99% of Western Union worth $50,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Western Union by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,275,287 shares of the credit services provider’s stock worth $111,778,000 after acquiring an additional 58,070 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Western Union by 48.5% during the second quarter. Schroder Investment Management Group now owns 13,240,037 shares of the credit services provider’s stock valued at $111,481,000 after acquiring an additional 4,321,604 shares in the last quarter. Discerene Group LP raised its position in shares of Western Union by 55.1% during the second quarter. Discerene Group LP now owns 10,366,558 shares of the credit services provider’s stock worth $87,286,000 after purchasing an additional 3,684,366 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Western Union by 821.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 4,170,343 shares of the credit services provider’s stock worth $35,114,000 after purchasing an additional 3,717,589 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Western Union by 50.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,127,557 shares of the credit services provider’s stock valued at $34,744,000 after purchasing an additional 1,380,615 shares during the period. Institutional investors and hedge funds own 91.81% of the company’s stock.

Western Union Stock Performance

Shares of WU opened at $9.88 on Thursday. The Western Union Company has a 1 year low of $7.85 and a 1 year high of $11.94. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s fifty day moving average price is $9.35 and its two-hundred day moving average price is $8.77. The firm has a market cap of $3.14 billion, a PE ratio of 4.31, a PEG ratio of 3.01 and a beta of 0.52.

Western Union Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date was Monday, December 22nd. Western Union’s dividend payout ratio is presently 41.05%.

Insider Buying and Selling

In other Western Union news, insider Giovanni Angelini acquired 10,000 shares of Western Union stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $8.95 per share, for a total transaction of $89,500.00. Following the purchase, the insider owned 186,932 shares of the company’s stock, valued at approximately $1,673,041.40. This represents a 5.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on WU. Weiss Ratings reiterated a “hold (c-)” rating on shares of Western Union in a report on Wednesday, January 21st. Keefe, Bruyette & Woods increased their price objective on shares of Western Union from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, January 2nd. Citigroup raised shares of Western Union to a “hold” rating in a research report on Thursday, October 23rd. UBS Group upped their target price on Western Union from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Monday, November 10th. Finally, Cantor Fitzgerald upgraded Western Union to a “strong sell” rating in a report on Tuesday, January 27th. Ten research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Western Union has a consensus rating of “Reduce” and a consensus price target of $8.82.

Western Union Company Profile

Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.