Comerica Bank reduced its position in The Western Union Company (NYSE:WU) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,263 shares of the credit services provider’s stock after selling 24,489 shares during the period. Comerica Bank’s holdings in The Western Union were worth $1,674,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of WU. Exane Derivatives lifted its stake in The Western Union by 40.6% during the 3rd quarter. Exane Derivatives now owns 192,069 shares of the credit services provider’s stock valued at $3,660,000 after acquiring an additional 55,449 shares in the last quarter. Swiss National Bank increased its position in shares of The Western Union by 2.6% during the 2nd quarter. Swiss National Bank now owns 1,519,524 shares of the credit services provider’s stock valued at $30,892,000 after purchasing an additional 39,000 shares during the last quarter. Natixis increased its position in shares of The Western Union by 210.4% during the 2nd quarter. Natixis now owns 847,306 shares of the credit services provider’s stock valued at $17,226,000 after purchasing an additional 574,322 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of The Western Union during the 3rd quarter valued at $385,000. Finally, Jane Street Group LLC increased its position in shares of The Western Union by 391.0% during the 2nd quarter. Jane Street Group LLC now owns 50,152 shares of the credit services provider’s stock valued at $1,020,000 after purchasing an additional 39,938 shares during the last quarter.
In related news, EVP Sheri Rhodes sold 2,175 shares of The Western Union stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $19.02, for a total value of $41,368.50. Following the completion of the sale, the executive vice president now owns 51,775 shares of the company’s stock, valued at approximately $984,760.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.
Several brokerages have recently issued reports on WU. ValuEngine lowered The Western Union from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Zacks Investment Research lowered The Western Union from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Wells Fargo & Co lowered The Western Union from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a research report on Tuesday, November 6th. Finally, Barclays began coverage on The Western Union in a research report on Wednesday, November 14th. They set an “underweight” rating and a $18.00 target price for the company. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.83.
Shares of The Western Union stock opened at $18.73 on Monday. The Western Union Company has a 1 year low of $17.40 and a 1 year high of $22.21. The firm has a market cap of $8.29 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01.
The Western Union (NYSE:WU) last announced its earnings results on Thursday, November 1st. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. The Western Union had a negative return on equity of 194.60% and a negative net margin of 8.55%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the firm posted $0.53 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Western Union Company will post 1.92 earnings per share for the current year.
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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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