United Services Automobile Association Reduces Stock Position in The Western Union Company (NYSE:WU)

United Services Automobile Association cut its stake in The Western Union Company (NYSE:WU) by 17.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364,368 shares of the credit services provider’s stock after selling 79,057 shares during the period. United Services Automobile Association’s holdings in The Western Union were worth $7,247,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Monument Capital Management increased its stake in shares of The Western Union by 3.9% during the 2nd quarter. Monument Capital Management now owns 105,085 shares of the credit services provider’s stock worth $2,100,000 after purchasing an additional 3,983 shares in the last quarter. AGF Investments LLC increased its stake in shares of The Western Union by 25.6% during the 2nd quarter. AGF Investments LLC now owns 18,108 shares of the credit services provider’s stock worth $360,000 after purchasing an additional 3,687 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of The Western Union by 8.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 116,633 shares of the credit services provider’s stock worth $2,320,000 after purchasing an additional 8,868 shares in the last quarter. First Trust Advisors LP increased its stake in shares of The Western Union by 42.2% during the 1st quarter. First Trust Advisors LP now owns 689,431 shares of the credit services provider’s stock worth $12,734,000 after purchasing an additional 204,579 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of The Western Union by 3.2% during the 2nd quarter. CIBC Asset Management Inc now owns 42,238 shares of the credit services provider’s stock worth $840,000 after purchasing an additional 1,300 shares in the last quarter.

A number of brokerages have recently weighed in on WU. Guggenheim raised shares of The Western Union from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Friday, September 27th. TheStreet raised shares of The Western Union from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. BTIG Research raised their price objective on shares of The Western Union to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Barclays lifted their target price on shares of The Western Union from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.00.

In other The Western Union news, EVP Richard L. Williams sold 35,686 shares of The Western Union stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $20.75, for a total value of $740,484.50. Following the transaction, the executive vice president now owns 130,439 shares in the company, valued at approximately $2,706,609.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Miles sold 6,282 shares of The Western Union stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $24.00, for a total transaction of $150,768.00. Following the completion of the transaction, the director now owns 133,735 shares in the company, valued at approximately $3,209,640. The disclosure for this sale can be found here. Insiders sold a total of 91,788 shares of company stock valued at $2,003,068 over the last ninety days. 1.33% of the stock is owned by corporate insiders.

WU stock traded up $0.11 during midday trading on Thursday, hitting $22.88. The stock had a trading volume of 123,609 shares, compared to its average volume of 6,886,169. The firm has a market cap of $9.82 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.80. The company has a debt-to-equity ratio of 101.99, a current ratio of 0.94 and a quick ratio of 0.94. The Western Union Company has a 12-month low of $16.42 and a 12-month high of $24.09. The company’s 50-day moving average price is $22.28 and its 200 day moving average price is $20.39.

The Western Union (NYSE:WU) last released its earnings results on Thursday, August 1st. The credit services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.03). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. The Western Union had a negative return on equity of 309.12% and a net margin of 22.11%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, sell-side analysts anticipate that The Western Union Company will post 1.77 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.50%. The Western Union’s payout ratio is currently 41.67%.

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

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